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Tuesday, August 21st, 2012 at 12:59 pm  |  6 responses

MSG Stock Closed at All-Time High on Monday


The presumed correlation between Jeremy Lin and Madison Square Garden’s stock price isn’t that strong after all. This is not necessarily our field, but shares of $MSG closed at 39.39 Monday, for a market cap of $2.98 billion. That’s an all-time high for the stock. After hitting a three-month low of 34.73 on July 23, shares have climbed steadily, gaining 13.4 percent in just 28 days. It’s now safe to say MSG is a strong company, with or without Jeremy Lin. Via Deadspin.com: “That’s an all-time high for the stock, squeaking past the previous high at the beginning of NBA free agency, and blowing past the numbers at the height of Linsanity. This means nothing, but so does everything that came before it. We all went a little Linsane this year. It’s OK. It was a crazy time, we all said some things we wish we hadn’t, made some grand pronouncements that look silly in retrospect. One of the more pernicious and stubborn memes was that Lin was some kind of bottomless ATM, whose monetary value to the Knicks would easily pay for his contract and any luxury tax penalties. A golden goose whose eggs would be worth far more than the $58 million they could owe him in 2014-2015.”

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  • Flash

    What’s this gotta do with basketball?

  • CubicleWorker

    Literally every company has increased in the last month with many companies hitting record highs. Has nothing to do with Jeremy Lin and everything to do with traders speculating heavily on ECB and US Fed intervering in the economy via more monetary easing. Useless article for slam..

  • bike

    I thought the title was refering to Monosodium glutamate which I would have found somewhat suprising.

  • http://www.youtube.com/watch?v=kdiFH6BcSUE IAMORANGE4EVER

    KIDDSANITY!

  • jinolin

    Yeah the market is ballooning as of late, no real merit just speculative eurozone BS, stack your money and buy after the election.

  • coach777b

    Half of the problem with NY Knicks is stories like this mean something to their fans.
    Submit this to the Wall Street Journal, where it belongs.

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