What's going on with Live Nation Entertainment Stock?

Shares of Live Nation Entertainment Inc LYV are trading down 6.91% to $66.89 on Friday afternoon following a New York Times report titled "Justice Department Said to Investigate Ticketmaster's Parent Company".

So what's going on?

Our Benzinga team reported that Ticketmaster announced on Thursday that an "insufficient" number of tickets remaining for Taylor Swift's Eras Tour is causing the open public sale scheduled for Friday to be canceled.

Ticketmaster's announcement on Thursday came via Twitter, when the ticketing giant said, "Due to extraordinarily high demand from ticketing systems and insufficient inventory remaining tickets to meet this demand, tomorrow's public sale for Taylor Swift | The Eras Tour has been cancelled."

Tickets went on sale in various presales this week and due to extraordinary demand, there are no more tickets available to the public. LYV owns and operates Ticketmaster, the site facilitating sales for Swift's tour...Learn more

According to data from Benzinga Pro, LYV has a 52-week high of $126.79 and a 52-week low of $67.53.

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