Please ensure Javascript is enabled for purposes of website accessibility

Why LiveXLive Media Stock Jumped on Thursday

By Daniel Sparks - Mar 18, 2021 at 2:34PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The digital media specialist is gearing up for a new series featuring social media celebrities.

What happened

Shares of digital media specialist LiveXLive Media (LIVX -9.08%) jumped on Thursday, rising as much as 19.2%. As of 2 p.m. EDT, however, the stock was up about 9%.

The tech stock's gain follows an announcement from the company saying it is producing and distributing a pay-per-view boxing and entertainment event in June.

A chart showing a stock price rising sharply.

Image source: Getty Images.

So what

Called "Social Gloves: Battle of the Platforms," the live boxing and entertainment event will feature social media stars from YouTube and TikTok. The main event will feature ACE Family founder Austin McBroom and TikTok star Bryce Hall. Other stars to be featured include Danny Duncan, DDG, Deji, FaZe Jarvis, Michael Le, Nate Wyatt, Tanner Fox, Tayler Holder and Vinnie Hacker.

The event will be produced by entertainment veteran and executive Paul Cazers.

Now what

The event is the "first in a series of major upcoming Social Gloves events planned in partnership with LiveXLive," the company said.

LiveXLive has significant momentum in live events, with 52 live-streamed in its most recent quarter, up from 10 in the year-ago period.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

LiveXLive Media, Inc. Stock Quote
LiveXLive Media, Inc.
$0.63 (-9.08%) $0.06

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning service.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 05/24/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.