Mercy Mutanya is a Tech enthusiast, Digital Marketer, Writer and IT Business Management Student.
She enjoys reading, writing, doing crosswords and binge-watching her favourite TV series.
JPMorgan Chase & Co. recently raised its Sphere Entertainment stock price target from $25 to $28 following the release of the entertainment company’s Q4 figures.
Sphere Entertainment Co (NYSE: SPHR) stock rose by more than 7% after the company opened its Sphere venue in Las Vegas with a show by U2 on Friday night. The 360-foot-tall venue is located at the Venetian Resort and will host live concerts and sporting events.
Everything you need to know about the all new MSG Sphere in Las Vegas. This concert venue is state of the art with visual technology unavailable anywhere else. Here are the food & drink prices, views from 100, 200, 300 and 400 level sections including obstructed views, and the… pic.twitter.com/ctnRrPLL2H
— Jen G. (@vegasstarfish) September 30, 2023
Following the concert, which was the first in a series of 25, the media and entertainment company’s stock surged to over 11% to reach $41.32 during premarket trading. SPHR stock started Monday at $37.74 and fluctuated between $36.77 and $37.97. CNN Money data shows that 12-month price forecasts provided by four analysts for SPHR stock had a median target of $30.00 with a low estimate of $24 and a high estimate of $38. These forecasts suggested a possible drop of 19.31% from the last recorded price of $37.18.
JPMorgan Chase & Co. recently raised its Sphere Entertainment stock price target from $25 to $28 following the release of the entertainment company’s Q4 figures. JPMorgan analyst David Karnovsky wrote:
“While the attention the exosphere received on social media and the press has given us incremental confidence on what forward demand will be from artists, consumers, and corporate partners, the ultimate success of the venue, and viability of future Spheres, will hinge largely on original content.”
Another company that experienced a premarket surge in share price was AMC Entertainment which rose by 2% following the announcement that the tour documentary “Renaissance: A Film by Beyoncé”, will be distributed in the United States later this year. Meanwhile, Elon Musk’s electric vehicle maker Tesla’s shares dropped almost 3% after the company reported a decline in production in the third quarter that was attributed to a planned shutdown.
Snoop Dogg, also known as prominent non-fungible token (NFT) collector Cozomo de’ Medici, has been busy with all things crypto lately.
Just today alone, the rapper dropped a new music video in blockchain-based game The Sandbox—where he will also hold a virtual metaverse concert later this year—as well as confirmed an upcoming Twitter Spaces meeting with Cardano founder Charles Hoskinson.
House he built
According to a press release shared with CryptoSlate by The Sandbox’s parent company Animoca Brands today, “House I Built” from Snoop Dogg’s latest album B.O.D.R. is the “very first music video produced in The Sandbox metaverse.” The rapper explained:
“The ‘House I Built’ track draws a parallel between how I’ve constructed my life and career and how I’m building out my Snoopverse virtual world in The Sandbox. Whether in the metaverse or the universe, it’s about keeping it real, being yourself, and making the most of every opportunity.”
A metaverse music video
– House I Built. Checc it
https://t.co/Y1F58Hi2lf
— Snoop Dogg (@SnoopDogg) April 1, 2022
In the video itself, made with the platform’s free content creation tools VoxEdit and Game Maker, Snoop Dogg is represented as a pixelated 3D avatar à la Minecraft. Notably, the clip also features special guests such as DJs Blondish and Steve Aoki.
Meanwhile, the music video is something akin to an opening act launched ahead of Snoop Dogg’s full-fledged virtual concert that will be held in The Sandbox “later this year.” The platform’s CEO and co-founder Arthur Madrid further added:
“Today in The Sandbox, Snoop Dogg is building the Snoopverse, a place where his avatar can perform exclusive concerts only accessible to his fans. Snoop’s new, first-of-its-kind, metaverse music video ‘House I Built’ provides a tangible example today but there is more coming very soon.”
‘That Cardano and this Web3 stuff’
At the same time, Snoop Dogg also confirmed today that on April 5 he will join Charles Hoskinson, the founder of the Cardano blockchain and a co-founder of Ethereum, on Twitter Spaces—and “this will be fun.”
This will be fun
— Snoop Dogg (@SnoopDogg) March 31, 2022
In his turn, Hoskinson similarly confirmed this, noting “Yes, I’ll be with Snoop on the 5th. I have the best job in the world.”
Apparently, at least some part of the conversation will be dedicated to a new partnership between Snoop Dogg and Cardano-based platform Clay Nation that will “bring you iconic collectibles, unreleased music, & limited edition ‘pitches’.”
Previously, Clay Nation minted—and sold out—a collection of “original handmade Clay NFTs” that also serve as “entry to Clay Nation Festival & moulding the metaverse.”
“It’s a collection of 10,000 digital characters with algorithmically assembled, handcrafted clay traits. Each unique character is a one-of-a-kind NFT, stored on the Cardano blockchain. Just like in the non-clay world, no two members of Clay Nation are the same.”
Further details of the new partnership will be revealed during the Twitter Spaces meeting with Snoop Dogg, Charles Hoskinson, and crypto investor Champ Medici on April 5, at 6 p.m. UTC.
