Liberty Media Corp.: The Quiet Stock Powering F1, SiriusXM & Live Sports
Liberty Media Corp. is presented as a significant, yet often overlooked, holding company with major stakes in Formula 1, SiriusXM, and Live Nation, making it a key player in the entertainment industry. The article highlights its complex structure involving tracking stocks for different assets, positioning it as a strategic investment for those interested in the monetization of sports, audio, and live events, particularly in the US market. While offering potential for value unlocking through its experienced management, the article also cautions about its inherent complexity and execution risks within its various segments.
Strs Ohio Has $52,000 Position in Liberty Media Corporation - Liberty Formula One Series A $FWONA
Strs Ohio drastically reduced its stake in Liberty Media Corporation - Liberty Formula One Series A (NASDAQ:FWONA) by 97.7% in Q3, now holding 543 shares valued at $52,000. Meanwhile, company insiders have been net sellers, disposing of over $35 million worth of shares in the last 90 days. Despite insider selling, analysts maintain a "Moderate Buy" consensus rating with a target price of $103.00 for FWONA.
Principal Financial Group Inc. Increases Stake in Liberty Media Corporation - Liberty Formula One Series A $FWONA
Principal Financial Group Inc. significantly increased its stake in Liberty Media Corporation - Liberty Formula One Series A (FWONA) by 11.6% in the third quarter, now owning 989,602 shares valued at $94.23 million. This comes despite notable insider selling, with directors disposing of millions of dollars worth of shares. Wall Street analysts maintain a "Moderate Buy" consensus rating for FWONA, with an average target price of $103.00.
Liberty Media Corporation - Liberty Formula One Series A (NASDAQ:FWONA) Receives Average Recommendation of "Moderate Buy" from Brokerages
Liberty Media Corporation - Liberty Formula One Series A (NASDAQ:FWONA) has received an average "Moderate Buy" recommendation from seven brokerages, with an average 12-month target price of $103.00. Despite this, there has been significant insider selling, with insiders offloading 368,363 shares worth approximately $36.65 million in the last 90 days. The company has a market capitalization of $20.10 billion and a high P/E ratio, trading within a 1-year range of $68.00–$99.52.
GAM Holding AG Takes $1.61 Million Position in Liberty Media Corporation - Liberty Formula One Series A $FWONA
GAM Holding AG has acquired a new stake worth approximately $1.61 million in Liberty Media Corporation - Liberty Formula One Series A (NASDAQ:FWONA) during the third quarter. Despite significant insider selling, analysts maintain a "Moderate Buy" rating with a consensus price target of $103.00 for the Class A equity security, which tracks Liberty Media's economic interest in Formula One. The stock currently trades near $89 with a market capitalization of $22.27 billion.
Liberty Media Corporation - Liberty Formula One Series A (NASDAQ:FWONA) Director Chase Carey Sells 83,500 Shares of Stock
Liberty Media Corporation - Liberty Formula One Series A (NASDAQ:FWONA) Director Chase Carey sold 83,500 shares of the company's stock on December 16th, reducing his position by nearly 47%. This sale, among others in November and December, totaled over $7.99 million. Despite these insider sales, analysts maintain a "Moderate Buy" rating for FWONA with a consensus price target of $103.00.
Eminence Capital LP Sells 115,983 Shares of Liberty Media Corporation - Liberty Formula One Series C $FWONK
Eminence Capital LP significantly reduced its stake in Liberty Media Corporation - Liberty Formula One Series C (FWONK) by selling 115,983 shares in Q2, decreasing its holding by 5.8%. Despite this, the institutional investor still owns 1,884,563 shares valued at approximately $196.9 million, making FWONK its 14th largest holding. Insider selling also occurred, with Director Chase Carey and Renee L. Wilm disposing of shares, while institutional ownership remains high at 92.26%.
Liberty Media Corporation - Liberty Formula One Series C $FWONK Holdings Boosted by Sei Investments Co.
Sei Investments Co. significantly increased its holdings in Liberty Media Corporation - Liberty Formula One Series C (NASDAQ:FWONK) by 14.3% in the second quarter, bringing its total ownership to 930,086 shares valued at $97,196,000. Other institutional investors like S Bank Fund Management, Aviva PLC, Geode Capital Management LLC, Praxis Investment Management Inc., and M.D. Sass LLC also adjusted their stakes. The article details recent insider stock sales, analyst ratings, and the company's financial performance.
Darsana Capital Partners LP Has $261.25 Million Stock Holdings in Liberty Media Corporation - Liberty Formula One Series C $FWONK
Darsana Capital Partners LP recently reduced its stake in Liberty Media — Formula One Series C (NASDAQ:FWONK) by 28.4%, now holding 2.5 million shares valued at $261.25 million, making it their 6th largest holding. Concurrently, company insiders have been net sellers, offloading over 201,000 shares worth approximately $20.55 million in the past three months. Despite missing EPS estimates, Liberty Media saw revenues slightly beat expectations and currently holds a "Moderate Buy" consensus rating from analysts with an average price target of $112.33.
Liberty Media Corporation - Liberty Formula One Series A (NASDAQ:FWONA) Receives Average Rating of "Moderate Buy" from Brokerages
Liberty Media Corporation - Liberty Formula One Series A (NASDAQ:FWONA) has received an average rating of "Moderate Buy" from eight analysts, with an average 12-month price target of $103.00. Notable insider selling occurred recently, with Director Chase Carey selling 109,121 shares for approximately $11.19 million, contributing to a total of $20.55 million in insider sales over the last quarter. Despite a high trailing PE ratio of 109.14, indicating a rich valuation, the company maintains a market capitalization of $21.29 billion.
Liberty Media Formula One stock maintains Buy rating ahead of Las Vegas Grand Prix
Benchmark has reiterated its Buy rating and $110.00 price target for Liberty Media Corp-Liberty Formula One (NASDAQ:FWONA) ahead of the Las Vegas Grand Prix, indicating an approximate 28% upside potential from its current trading price of $85.82. The upcoming Liberty Live split-off on December 15th is expected to transform Formula One Group into an asset-backed security, potentially broadening its investor base. The company showcases strong global growth with new manufacturers joining F1 and impressive revenue growth, supported by a "GOOD" financial health score, and is well-positioned in the sports entertainment sector.
Analysts Estimate Liberty Media Corporation - Liberty Formula One Series A (FWONA) to Report a Decline in Earnings: What to Look Out for
Analysts predict a year-over-year decline in earnings for Liberty Media Corporation - Liberty Formula One Series A (FWONA) despite higher revenues for the quarter ending September 2025. The company is expected to report quarterly earnings of $0.47 per share on November 5, representing a -2.1% change year-over-year, with revenues estimated at $850 million, up 0.2%. Despite a strong past earnings surprise history, FWONA's current Zacks Earnings ESP and Zacks Rank make a conclusive earnings beat prediction difficult.
Formula 1 Announces Extension of the United States Grand Prix Through 2034 - Catchfence
Formula 1 has extended its contract for the United States Grand Prix at Circuit of the Americas (COTA) through the 2034 season, solidifying the event's long-term future in Austin, Texas. The race, which has seen significant growth in popularity and economic impact since its 2012 debut, continues to attract hundreds of thousands of fans and contributes billions to the local economy. This extension reflects F1's robust growth in the U.S. and its appeal to a diverse, younger audience.
Praxis Investment Management Inc. Purchases 2,770 Shares of Liberty Media Corporation - Liberty Formula One Series C $FWONK - MarketBeat
Praxis Investment Management Inc. increased its stake in Liberty Media Corporation - Liberty Formula One Series C (NASDAQ: FWONK) by 28.1%, now holding 12,640 shares valued at $1.32 million. This move comes as Liberty Media reported strong earnings, beating analyst expectations with $1.52 per share and $1.34 billion in revenue. Institutional ownership of FWONK is substantial at 92.26%, and several analysts have raised their price targets for the stock.
(FWONK) Movement Within Algorithmic Entry Frameworks - news.stocktradersdaily.com
This article analyzes Liberty Media Corporation Series C Formula One Group Common Stock (NASDAQ: FWONK) using AI models, highlighting a weak near-term sentiment amidst a mid-channel oscillation pattern. It details three trading strategies—Position Trading, Momentum Breakout, and Risk Hedging—with specific entry, target, and stop-loss levels, alongside a multi-timeframe signal analysis. The analysis also identifies an exceptional 28.2:1 risk-reward setup targeting an 8.3% gain against a 0.3% risk.
Liquidity Mapping Around (FWONA) Price Events - news.stocktradersdaily.com
This article provides an AI-driven analysis of Liberty Media Corporation Series A Formula One Group Common Stock (NASDAQ: FWONA), identifying weak near-term sentiment but long-term strength. It details specific trading strategies for different risk profiles, including long, breakout, and short setups, and offers multi-timeframe signal analysis with support and resistance levels. The report emphasizes an exceptional risk-reward short setup and divergent sentiment across various time horizons for FWONA.
Girlstart Wins Inaugural US F1® Allwyn Global Community Award - Macau Business
Girlstart, an Austin-based organization empowering girls in STEM, has won the inaugural US F1® Allwyn Global Community Award. They received a €100,000 donation from Allwyn to support their programs, including after-school activities, summer camps, and conferences. This award highlights the shared commitment of Formula 1 and Allwyn to promoting positive community change and inspiring young women in STEM fields.
Russian GP boss contrasts Bernie era with Liberty - grandprix.com
Alexey Titov, former CEO of Rosgonki, the promoter of the defunct Russian Grand Prix, has contrasted the flexibility of working with Bernie Ecclestone with the more corporate approach of Liberty Media. Titov highlighted Ecclestone's willingness to renegotiate contract terms, including the annual hosting fee increase, which he found absent under Liberty Media's management. Rosgonki is currently seeking reimbursement for the cancelled 2022 Russian GP.
Formula 1 News: Russian GP boss contrasts Bernie era with Liberty - AutoRacing1.com
Alexey Titov, the former head of the Russian GP, highlighted the distinct management styles of Bernie Ecclestone and Liberty Media. Titov noted that Ecclestone was a flexible negotiator, often willing to renegotiate contract terms, unlike the more corporate approach of Liberty Media. Rosgonki, the promoter of the Sochi race, is still seeking reimbursement for the cancelled 2022 Russian GP.
Formula 1 News: Russian GP boss contrasts Bernie era with Liberty - AutoRacing1.com
Alexey Titov, former head of the Russian GP, states that working under Bernie Ecclestone was more flexible and open to renegotiation compared to the current management under Liberty Media. He highlights Ecclestone's pragmatic negotiation style regarding hosting fees, contrasting it with Liberty Media's corporate approach. Rosgonki, Titov's former company, is still seeking reimbursement for the cancelled 2022 Russian GP.
OPINION: Is Liberty Media erasing MotoGP’s history?
Liberty Media's acquisition of MotoGP's media rights in 2025 has sparked controversy due to proposed changes that would reduce the visibility of Moto2 and Moto3 classes and potentially remove their world champion titles. The author argues that this move disregards MotoGP's unique history and legacy, where lower categories have always held World Championship status, unlike Formula One's feeder series. The article highlights concerns that stripping away these titles would diminish the achievements of legendary riders and fundamentally alter the rider-focused essence of the sport.
Should we be worried about the F1-ization of MotoGP? - autohebdof1.com
This article discusses concerns about the "F1-ization" of MotoGP following Liberty Media's acquisition of Dorna Sports. Purists fear changes mirroring F1, such as more races, transforming drivers into influencers, and downplaying Moto2 and Moto3. The piece examines these concerns, noting that some changes, like increased race numbers, were already underway, while others, like the sidelining of lower categories, are more recent and contentious.
MotoGP will imitate F1 and move to Liberty Media - carrollcountyobserver.com
Liberty Media, already the owner of Formula 1, has received approval from European competition authorities to acquire MotoGP. This acquisition is seen as a way to boost MotoGP's notoriety, leveraging Liberty Media's success in popularizing F1 through innovative media and entertainment strategies. The deal, expected to finalize by July 3, 2025, aims to unlock significant growth potential for MotoGP by expanding its global audience.
Board of the Pension Protection Fund Buys 6,800 Shares of Liberty Media Corporation - Liberty Formula One Series A $FWONA
The Board of the Pension Protection Fund increased its stake in Liberty Media Corporation - Liberty Formula One Series A (FWONA) by 72.3%, acquiring 6,800 additional shares to own a total of 16,200 shares. This move highlights significant institutional investment, with the stock comprising 1.7% of the fund's portfolio. Liberty Media also reported strong quarterly earnings, surpassing analyst expectations with $1.52 per share and $1.34 billion in revenue.
Liberty Media Corporation – Liberty Formula One Series A $FWONA Stock Holdings Lifted by QRG Capital Management Inc.
QRG Capital Management Inc. increased its stake in Liberty Media Corporation – Liberty Formula One Series A (FWONA) during the second quarter. Other institutional investors also adjusted their positions, with insider Malcolm Ian Grant Gilchrist selling a significant number of shares. The article also provides a company profile for Liberty Media Corporation – Liberty Formula One Series A.
Liberty Media Corporation – Liberty Formula One Series A $FWONA Shares Acquired by Janney Montgomery Scott LLC
Janney Montgomery Scott LLC has increased its stake in Liberty Media Corporation – Liberty Formula One Series A (FWONA), while other institutional investors also adjusted their holdings. The article details recent insider stock sales and a downgrade in analyst ratings for FWONA shares, which also experienced a share price drop. It also provides a company profile for Liberty Media Corporation and its Formula One Group subsidiary.
Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) Cut to Hold at Zacks Research
Zacks Research has downgraded Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) from a strong-buy to a hold rating. The article also details recent insider stock sales, with Director Malcolm Ian Grant Gilchrist selling 898 shares for over $89,000, and highlights institutional investment activities, showing various funds adjusting their stakes in the company. Liberty Media's Formula One Group focuses on motorsports, holding commercial rights for the FIA Formula One world championship.
Liberty Media CEO: ‘Pretty happy and comfortable’ with ongoing F1 media rights talks
The CEO of Liberty Media, Derek Chang, indicated that the company is "pretty happy and comfortable" with ongoing Formula One media rights negotiations, strongly suggesting a deal with Apple is imminent. While Apple was not named directly, Chang's comments about seeking a partner who can also act as a sponsor and enhance fan engagement align with Apple's capabilities. This move would see F1 trading ESPN's reach for potential revenue and leveraging by putting its content behind the Apple TV+ paywall, similar to Major League Soccer's strategy.
Liberty Media CEO hints F1 nearing U.S. media deal with Apple
Liberty Media CEO Derek Chang indicated that the company is "pretty far along" in discussions for a U.S. media rights partner for Formula 1, strongly hinting at Apple without explicitly naming them. Chang emphasized the importance of a partner that can go beyond traditional media dealmaking to act as a sponsor, helping F1 monetize and commercialize the relationship holistically. The potential deal with Apple is seen as a way to amplify fan engagement, especially with an "F1" film set to stream on Apple TV+.
Formula 1 “Happy And Comfortable” With Late-Stage U.S. Rights Talks, CEO Of Parent Liberty Media Says; Apple Reportedly In Pole Position
Liberty Media CEO Derek Chang stated that Formula 1 is "pretty far along" and "happy and comfortable" with ongoing late-stage U.S. media rights negotiations. Reports indicate Apple is in a strong position, offering significantly more than current rights holder ESPN, bolstered by the success of the Brad Pitt F1 movie. The discussions explore a partnership that extends beyond just media, potentially including sponsorship, reflecting the evolving sports broadcasting landscape.
F1 revenue hits US$1.2bn in Q2 with help from Apple movie
Formula One (F1) saw a significant revenue increase in Q2 2025, reaching US$1.2 billion, a 41% rise year-over-year, and an operating income of US$293 million. This marks the third time F1 has surpassed US$1 billion in a single quarter, driven by an increased number of races, new sponsorship deals with PepsiCo and MSC Cruises, and a licensing agreement with Disney. The F1 movie starring Brad Pitt also contributed significantly to media rights revenue, generating over US$550 million globally.
F1 Las Vegas Grand Prix ticket presale underway, general sales start Aug. 14; MotoGP deal completed
Presale tickets for the F1 Las Vegas Grand Prix have been released to American Express card members, with general sales starting August 14th. Tickets vary from single-day general admission starting at $140 to three-day packages up to $2,462. Formula 1's popularity in the U.S. continues to grow, with CEO Stefano Domenicali reporting increased ticket sales and progress on long-term contracts. Additionally, Liberty Media, F1's owner, completed a deal for MotoGP, exploring potential expansion in the U.S. market.
Formula One Group Sees Revenue Boost From Apple’s ‘F1’ Movie
The Formula One Group has reported a significant revenue increase, attributing part of the boost to the success of Apple's "F1" movie starring Brad Pitt. The film has grossed over $500 million globally, contributing to a 40 percent year-over-year revenue rise for F1 Group. Executives also highlighted the movie's role in expanding the sport's cultural impact and audience awareness, with expectations for continued growth as the film moves to streaming platforms.
Liberty Media Corporation - Liberty Formula One Series A (FWONA) Q2 Earnings and Revenues Top Estimates
Liberty Media Corporation - Liberty Formula One Series A (FWONA) reported strong Q2 earnings of $1.52 per share, significantly exceeding the Zacks Consensus Estimate of $0.52, and revenues of $1.2 billion, beating estimates by 8.18%. Despite this positive quarterly performance, the stock currently holds a Zacks Rank #4 (Sell) due to unfavorable estimate revisions, suggesting potential underperformance in the near future. Investors are advised to consider the company's earnings outlook for future stock movements.
Apple Original Films’ summer blockbuster “F1 The Movie” accelerates back into IMAX
Apple Original Films' "F1 The Movie," starring Brad Pitt, is returning to IMAX theaters starting August 8, 2025, due to popular demand. The film, which has grossed over $552 million globally and is Brad Pitt's highest-grossing feature, boasts a 97 percent audience score on Rotten Tomatoes and was filmed specifically for the IMAX experience. The re-release and its successful soundtrack underscore its significant cultural and box office impact in 2025.
Liberty Media completes €4.3 billion takeover of MotoGP and WorldSBK
Liberty Media has officially completed its €4.3 billion acquisition of Dorna Sports, taking control of both MotoGP and WorldSBK championships. Having previously acquired Formula 1 rights in 2017, Liberty Media now owns the largest four and two-wheeled motorsport championships. The company aims to expand MotoGP's global presence, particularly in North America, with Carlos Ezpeleta continuing as CEO of Dorna and new strategic personnel joining the senior team.
Liberty Media completes €4.2bn MotoGP acquisition
Liberty Media has finalized its €4.2 billion acquisition of MotoGP commercial rights holder Dorna Sports, taking an 84% stake. The deal, which faced regulatory delays and received unconditional approval from the European Commission last month, sees MotoGP continuing to be led by its current management team. Liberty Media aims to leverage MotoGP's growth potential by connecting with its fanbase and expanding its global audience.
Latham Advises on Completed Dorna Sports Sale With Milestone European Commission
Latham & Watkins advised Bridgepoint and Canada Pension Plan Investment Board on the successful €4.2 billion sale of their controlling shareholdings in Dorna Sports to Liberty Media. The acquisition achieved a rare unconditional merger control clearance at Phase II from the European Commission, setting an important precedent for future sports media rights cases. Dorna Sports is the exclusive commercial rights holder of the MotoGP™ World Championship.
European Watchdog Clears Liberty Media’s $5B MotoGP Buy
The European Commission has unconditionally approved Liberty Media's nearly $5 billion acquisition of MotoGP after an in-depth investigation found no harm to competition in broadcasting rights. Liberty Media, which also owns Formula One, will purchase 86% of Dorna Sports SL, the commercial rights holder for MotoGP, strengthening its racing portfolio. The deal's approval was the final regulatory hurdle, with closing expected no later than July 3, and current CEO Carmelo Ezpeleta continuing to lead MotoGP.
Formula 1 Owner Liberty Clears Final Hurdle to Buy MotoGP
Liberty Media, owner of Formula 1, has received final approval from the European Commission to acquire a majority stake in MotoGP, the motorcycle racing circuit. The deal involves Liberty Media buying an 86% stake in Dorna Sports, the rights holder, for an enterprise valuation of €4.3 billion. This acquisition is expected to close on July 3, and Liberty Media plans to expand MotoGP's fanbase and international appeal, similar to their strategy with Formula 1.
PEPSICO® ANNOUNCES WORLDWIDE OFFICIAL PARTNERSHIP WITH FORMULA 1®
PepsiCo has announced a groundbreaking multi-year worldwide partnership with Formula 1, effective 2025, integrating its brands Sting Energy, Gatorade, and Doritos into the sport. This collaboration aims to create unforgettable fan experiences globally, leveraging Formula 1's massive audience. The partnership includes TV-visible advertising, Fan Zone activations, exclusive marketing rights, and product supply at race venues, along with a focus on F1 Sprint and F1 Academy.
F1 not a “major player” in the US yet, says new Liberty CEO
Liberty Media's new CEO, Derek Chang, stated that Formula One is not yet a "major player" in the US, despite its increased presence and three races. Chang also expressed cautious optimism for the upcoming Las Vegas Grand Prix after a significant drop in ticket sales during its second year. The series is currently seeking a new US media rights deal, with Netflix and Apple reportedly interested, while ESPN and NBC are unlikely to bid.
Liberty Media and Sirius XM Announce Completion of Split-Off and Merger
Liberty Media and Sirius XM have completed their previously announced split-off and merger, creating a new independent public company, Sirius XM Holdings Inc. This new entity will trade under the symbol "SIRI" on Nasdaq Global Select Market starting September 10, 2024. Former holders of Liberty SiriusXM common stock now own approximately 81% of the new Sirius XM Holdings, while former Old Sirius minority stockholders own the remaining 19%.
Inside The Rise Of Liberty Media, The World’s Most Valuable Sports Empire
Liberty Media, founded by John C. Malone, has grown into the world's most valuable sports empire with holdings like Formula One and MotoGP, valued at $18.22 billion. The company has a strong track record of developing sports assets and is expanding its global audience, as evidenced by its recent MotoGP acquisition and the growth of Formula One in the U.S. Beyond its financial success, Malone is also noted for his significant philanthropic efforts in land conservation and education.
Liberty Media Corporation Announces Plan to Split Off Liberty Live Group
Liberty Media Corporation announced its plan to split off the Liberty Live Group, aiming to simplify its capital structure, reduce the discount to net asset value, and enhance trading liquidity. The split-off will result in two separate publicly traded companies: Liberty Live, Inc., holding Live Nation shares and Quint, and Liberty Media, retaining Formula 1 and MotoGP. The transaction is expected to be tax-free to stockholders and is targeted for completion in the second half of 2025.
F1 Revenue Falls at Liberty Media, Company Completes Split-Off of SiriusXM
Liberty Media reported a net loss of $3 billion in the third quarter from discontinued operations related to its SiriusXM holdings, following the split-off of SiriusXM into a new tracking stock. While overall Formula 1 Group revenue increased to $911 million, primary F1 revenue decreased to $861 million due to fewer races and lower media rights and sponsorship revenue. Liberty Media CEO Greg Maffei highlighted strong commercial progress for Formula 1 and Live Nation's continued high demand.
Liberty announces sale of F1 stock to fund MotoGP takeover
Liberty Media is selling an $825 million stake in Formula 1 to finance its $4.2 billion acquisition of MotoGP. The sale involves over 10 million shares priced at $77.50 each, with proceeds also going toward corporate purposes and debt repayment. Liberty Media aims to replicate its success with Formula 1 by expanding MotoGP's global audience and increasing its value and revenue streams.
US-based Formula 1 owner Liberty Media announces MotoGP takeover
Liberty Media, the owner of Formula 1, has agreed to acquire MotoGP for an enterprise value of 4.2 billion euros ($4.5bn) from Dorna. This acquisition will place both premier motorsport series under the same ownership, with Liberty Media taking an approximately 86 percent stake. The deal is expected to close by the end of 2024, pending regulatory approvals, and current MotoGP CEO Carmelo Ezpeleta will remain in his role.
How to Invest in Formula 1
This article explores various ways to invest in Formula 1, both directly and indirectly. It details direct investment through Liberty Media's Formula One Group stocks (FWONA, FWONB, FWONK) and indirect opportunities by investing in related companies such as Aston Martin, Ferrari, and Pirelli, highlighting their recent financial performances and market prospects. The piece also acknowledges the inherent risks of trading financial assets and emphasizes the importance of thorough research.
It’s a New Day for Formula 1 (Published 2023)
Formula 1 has experienced a significant transformation under Liberty Media's ownership since 2017, leading to a substantial increase in revenue and team valuations. This growth has attracted significant investment, with several teams being acquired or receiving large investments from various firms and individuals. The sport's financial health is robust, leading team principals to believe its value will continue to rise due to growing demand and limited inventory.
