President Trump last night signed an Executive Order “to protect fans from exploitative ticket scalping and bring commonsense reforms to America’s live entertainment ticketing industry.” The Order directs the Federal Trade Commission to work with the Attorney General “to ensure that competition laws are appropriately enforced in the concert and entertainment industry.” The Order directs the Secretary of the Treasury and Attorney General to ensure that ticket scalpers are operating in compliance with the Internal Revenue Code and other applicable law. Shares of Vivid Seats (SEAT) are down 3% to $2.86 in premarket trading while Live Nation (LYV) is unchanged at $130.58.
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