Earlier today, Migos rapper Offset had the honour of ringing the opening bell at the NYSE in Times Square to celebrate Reservoir Media going public.
Reservoir Media, an independent licensing company founded by Golnar Khosrowshahi, became a publicly traded company back in July, listed on the Nasdaq stock exchange under the ticker RSVR. In July 2021, Variety reported that the company had acquired the licensing rights to music under the Tommy Boy Records name, after already picking up the Offset and Migos catalogs in 2017. Offset and Cardi B are also reportedly investors in the company, according to AfroTech and other sources.
“The rapper couple was on hand Monday at the NYSE in Times Square to do the honors of ringing the opening bell. Well, Offset did anyway … but Cardi B was right there too for moral support. They posed for some photo-ops too as they hyped their new venture.” – TMZ
Aside from celebrating the company going public, Offset and Cardi B were also on hand to acknowledge some other key milestones achieved by the move. According to Billboard’s coverage, Reservoir Media becomes the first U.S.-based publicly traded independent music company and the first female-founded and -led publicly traded music company in the U.S.
The RSVR stock opened today at $8.40 USD afer closing at $9.03 USD on it’s fist day, July 29th.
Offset and his Migos fam are currently promoting the Deluxe version of their Culture III, which was released on June 11th via Quality Control Music.
You can follow @Offsetyrn and @Migos on Instagram.
