Spotify & iHeartMedia Lead Music Stocks, SM Entertainment Shares Dip Amid Sex Scandal

of a U.S. price increase on Monday sent the stock on a roller-coaster ride. Shares rose to a new 52-week high of $331.08 on Wednesday — its highest point since Feb. 25, 2021 — before closing at $308.11 on Friday . in the United Kingdom and Australia in May. The additional U.S. price increase, which goes into effect in July, will raise individual rates to $11.99 per month and family plans to $19.99 per month.

to the board of directors and approved an advisory vote on the company’s 2023 executive compensation. SM Entertainment dropped 8.5% to 83,500 won amidst controversy over an alleged sex scandal involving Johnny and Haechan of the group. Such a large drop isn’t uncommon when a K-pop company’s artists are plastered across the South Korean news. In October, K-pop stocksElsewhere, CTS Eventim rose 4.3% to 82.80 euros . On Thursday , the German concert promoter and ticketing company finalized aof Vivendi’s festival and ticketing businesses.

Some U.S. stock indexes reached all-time highs this week. The S&P 500 hit a record 5,375.08 Friday, although it closed at 5,346.99, down 0.1%. The tech-heavy Nasdaq composite reached a new high of 17,235.73 on Thursday and ended Friday at 17,133.12, up 2.4% from the prior week. In the United Kingdom, the FTSE 100 declined 0.4% to 8,245.37. South Korea’s KOSPI composite index rose 3.3% to 2,722.67. China’s Shanghai Composite Index lost 1.2% to 3,051.28.

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