Like almost every other business, the conglomerate Freedom Media (LSXMA) took its pieces in the early days of the pandemic. And, like many, it has come back strong this year thanks to the growth of its Sirius radio, Formula 1 racing, Live Nation Entertainment and other businesses. On Friday, Liberty Media’s Relative Strength (RS) rating rose to 75 from 70 the previous day.
The new relative strength rating of 75 means Liberty Media’s stock price performed in the top 25% of all stocks, making it a stock to watch. It has improved a lot, but CAN SLIM investors like to see the RS rating a bit better. Market research shows that top performing stocks often have an RS rating above 80 at the start of their moves.
Liberty Media Stock rises with earnings
Liberty Media claims its Live Nation Entertainment business is the largest live entertainment company in the world. It includes concerts, sponsorship of sports teams, advertising and tickets. Liberty Media also owns the Atlanta Braves baseball team and associated real estate.
Last quarter earnings jumped to $1 a share from 3 cents a share a year earlier. The penultimate quarter, it reported a 467% increase in EPS to 99 cents, compared to a loss of 27 cents in the same quarter a year ago. Sales rose 9% last quarter to $2.198 billion.
Looking for the best stocks to buy and watch? start here
Due to weakness in previous quarters, Liberty Media stock has a composite rating of just OK 63. Likewise, its EPS 60 rating is less than ideal. Look for these ratings to improve if they continue to show strong numbers.
Liberty Media shares currently do not offer a suitable buying opportunity. See if the stock continues to form a chart pattern that could trigger a new run.
When looking for the best stocks to buy and watch, keep an eye on relative price strength.
This proprietary rating measures market leadership by showing how a stock’s price movement over the past 52 weeks compares to that of other stocks in our database.
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