The world is waiting on July 3 to see if pop singer Taylor Swift will marry professional football player Travis Kelce at Madison Square Garden in New York City. But whether the nuptials actually happen or not, a clear winner from the hype surrounding the wedding is Madison Square Garden Sports Corp. (MSGS).
The holding company manages both the Madison Square Garden arena in downtown New York as well as the professional sports teams that play there — the New York Knicks basketball team and National Hockey League’s New York Rangers. MSGS’ share price has risen 5% in the week leading up to Swift’s rumored wedding at the Garden. It’s the latest in a series of good news for MSG Sports, as the company is known.
Madison Square Garden Sports’ revenue by type. Source: The Fly
The Bull Run in MSGS Stock
The hype surrounding Taylor Swift’s rumored wedding is giving Madison Square Garden lots of free publicity and helping to build the brand and its name recognition. Swift’s wedding is the latest in a series of good news for MSG Sports that has helped send its share price on a epic winning streak over the past year.
