On November 5, 2021, the Astroworld tragedy occurred, injuring hundreds and resulting in the deaths of at least 8 people and the hospitalization of at least 25 people. Live Nation promoted the event.

According to an Associated Press article entitled “Crowd surge kills at least 8 at Houston music festival” “[t]he crowd at a Houston music festival suddenly surged toward the stage during a performance by rapper Travis Scott, squeezing fans so tightly together that they could not breathe or move their arms and killing eight people in the chaos.” The article further noted that “[t]he pandemonium unfolded Friday evening at Astroworld, a sold-out, two-day event in NRG Park with an estimated 50,000 people in attendance. As a timer clicked down to the start of the performance, the crowd pushed forward.” The article also noted that “[s]ome audience members said barricades erected near the stage and to separate different sections of ticket holders prevented fans from escaping.” Finally, the article stated that “[t]he police chief said authorities were investigating reports of suspicious activity in the crowd, including a security officer who told police that he felt a prick in his neck during the chaos and lost consciousness while being examined by first responders. He was revived by the opioid antidote Narcan.”

On this news, the Company’s share price fell on November 8, 2021, the next trading day after the tragedy.