Live Nation Shares Slide As Trump Moves To Sign Executive Order On Ticket Scalping

Live Nation Entertainment Inc (NYSE:LYV) shares turned lower after the market close on Monday following reports that President Donald Trump is preparing to sign an executive order to stop ticket scalping.

What Happened: CNBC reported Monday on “Closing Bell: Overtime” that Trump is set to sign an executive order targeting price gouging in the live entertainment industry.

The Trump administration will reportedly direct the Federal Trade Commission (FTC) to work with the attorney general to enforce competition laws within the industry. The executive order is expected to direct the FTC to ensure price transparency and to take enforcement action to prevent unfair and deceptive competitive conduct.

The Trump administration will also ask the Treasury Department to get involved by working with the attorney general to make sure ticket scalpers are abiding by the law.

A report on the initial adjustments is due within 180 days. At that point, the government will determine if any additional legislation is needed.

President Trump is expected to sign the executive order in the Oval Office at 5:30 p.m. ET. CNBC reported American musician Kid Rock will be in attendance at the signing.

Live Nation is a live entertainment company comprised of Ticketmaster, Live Nation Concerts and Live Nation Media & Sponsorship.

LYV Price Action: Live Nation shares were down 1.98% after hours, trading at $127.99 at the time of publication Monday, per Benzinga Pro.

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