2023-06-12 14:52:02
DCTS Eventim shares suffered badly from profit-taking on Monday. Having recently come close to their record, they initially started the day weakly and then extended their price losses in the course of trading to a minus of more than 10 percent to EUR 63.50 in the afternoon. The trigger on the market was that the TV satirist Jan Böhmermann dealt with the market position and fee policy of the event marketer and ticket dealer on Friday evening in his program “ZDF Magazin Royale”.
There was a clear setback after the price had continued to rise towards a record high on Friday at EUR 71.70. The best mark of 72.68 euros comes from November 2021. After this high, it went down again in October 2022 to almost the 40 euro mark. Since then, the price has increased by almost 80 percent at its peak, because business is going well again after the corona pandemic.
At the beginning of 2020, the pandemic had caught CTS Eventim in full. While lockdowns paralyzed the event industry for months, the price collapsed from around 60 euros in March 2020 to just under 25 euros. It then took a year and a half before the pre-crisis level was at times clearly exceeded again.
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At the beginning of June, analyst Gerhard Orgonas from Berenberg Bank was still positive about the share by slightly increasing the target price to EUR 85. He would trust her with a clear record high. At the time, he referred to the strong quarterly figures from CTS and the enormous demand for live entertainment.
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