Madison Square Garden Sports stock climbs after the New York Knicks advance to the NBA Finals for the first time since 1999.
Madison Square Garden Sports (MSGS) shares rose 3% in premarket trading after the New York Knicks secured a spot in the NBA Finals for the first time since 1999. The team’s sweep of the Cleveland Cavaliers late Monday drove investor optimism about potential revenue gains from playoff games and increased fan engagement.
The last time the Knicks reached the finals, in 1999, coincided with the peak of the dot-com bubble. During that period, eToys.com debuted at $28, surged to $76 on its first day, and achieved a $7.7 billion valuation—outpacing established retailers like Toys “R” Us despite lacking profitability. The Nasdaq Composite hit its all-time high of 5,048 on March 10, 2000, before collapsing nearly 78% in the subsequent downturn.
The Knicks’ playoff run contrasts with the speculative excesses of the late 1990s, focusing instead on tangible sports franchise value and revenue growth.