Major Labels

Warner Music Group Stock Drops 18.29%

WMG (UPDATED) Warner Music Group had a tough day on Wall Street Tuesday, as it's stock price dropped $1.11 to $4.96 since.  That's a fall of 18.29%, but still above the stock's 52 week low of $3.76. The broader market had a far less dramatic day with the Dow Jones Industrial Average dropping just 1.11%.

Traders may have been spooked by the insider trading trial of former Vivendi CEO Jean-Marie Messier which begins tomorrow in the Paris.  WMG CEO Edgar Bronfman Jr. had previously been implicated in the alleged affair.

UPDATE: WMG stock rose 4.44% to $5.18 in after hours trading Tuesday night. Follow today's action on the stock here.

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