Sphere Entertainment Stock Soars 12% After Opening Concert By U2

The grand opening finally arrived after construction costs nearly doubled over the last three years.

  • The grand opening of James Dolan’s Las Vegas Sphere, featuring rock legends U2, over the weekend proved to be a big hit on stage — and for the entertainment mogul’s bottom line.
  • Shares of Sphere Entertainment, the holding company formed in April to combine Sphere and Madison Square Garden Networks, soared 15% at Monday’s opening bell before closing the day at a robust 12%.
  • The stock closed at $41.29 — up from $37.32 on Friday.
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