Be it passing, scoring or defending, Jeremy Lin can seemingly do anything you need him to on the basketball court.
As it turns out, though, his magic touch extends to the business world as well.
Ever since Linsanity first began 10 days ago, New York’s newest big star has significantly increased TV ratings for the Knicks on MSG Network where games air, boosted traffic to the team’s website, and led the way for an all-time high share price for Madison Square Garden Co. stock. As per the Wall Street Journal, shares of MSG closed at $32.27 on Monday – an increase of $1.12 or 3.6 percent.
Since February 3, stock prices are up approximately six percent.
Prior to February, partially as a result of a lockout-induced lull and diminishing enthusiasm about the Knicks, MSG Co. had been experiencing unimpressive results for the year. From here on out, however, folks are forecasting a much brighter picture.
Not everyone is a Lin fan, though. Over the weekend a number of rebellious media figures said that the Knicks’ point guard was getting too much undeserved hype. Then, on Monday, perma-provocateur Floyd Mayweather Jr. said that Lin was only getting love from everyone because he was Asian.
Still, despite the predictable criticism, the markets seem to love Lin. And as any Republican will tell you, the markets know best.