MSG Stock Closed at All-Time High on Monday

by August 21, 2012

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 “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.”