Sotheby’s Stock Posts 20% Increase Despite Low Earnings

March 6th, 2017

Pablo Picasso, Femme Nue Assise (1965), via Sotheby'sDespite a low earnings figure posted during last week’s call to investors, Sotheby’s stock has jumped 20% in the last week, Art Market Monitor reports.  “Since the beginning of the current art market boom in 2004, BID has never sustained $50 as a price,” Marion Maneker writes.  “So the most important question surrounding these earnings is whether the stock price is sustainable and what happens to Sotheby’s shares when the stock is concentrated among institutional, activist and strategic owners.”

Read more at Art Market Monitor