MSG’s stock dipped 2.2% this morning in the first day of trading since news spread that the Knicks are probably not going to resign Jeremy Lin.
The stock opened at 36.29 and quickly fell to 35.48. It has since recovered to ~35.95.
It will cost the Knicks a boatload of cash in NBA luxury tax penalties to keep Lin. But if they let him leave, they lose a massive marketing tool, and investors are preparing accordingly.
Here’s the chart:
Photo: Google Finance
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