Sphere Entertainment (NYSE:SPHR) stock gained over 11% yesterday following the opening of its new concert venue in Las Vegas. The inaugural event featured a performance by the renowned rock band U2. The company intends to host a variety of live concerts and sporting events at this new venue, The Sphere.
The world’s largest spherical structure features a massive, high-resolution LED screen. It has a standing capacity of about 20,000 people, along with seating for 18,600 individuals. Further, the impressive LED screen has garnered significant attention from companies for advertising purposes. It is worth mentioning that the company has disclosed plans to build another Sphere in London.
Is Sphere Entertainment a Good Stock to Buy?
In the past three months, five analysts have provided ratings for SPHR stock. The stock has two Buy and 3 Hold ratings, giving Sphere Entertainment Co.’s stock an analyst consensus rating of Moderate Buy.
