Reservoir Media Stock Stumbles on Nasdaq Debut

Roth CH Acquisition II stock had an IPO price of $10 and briefly crossed $11 in February. Since then, investors have shown less enthusiasm, with few exceptions trading below $10 since mid-May.

Reservoir, whose revenue was estimated at $64 million for the fiscal year ended March 31, is now the fourth publicly traded company focused on acquiring music rights — Hipgnosis Songs Royalty Fund, Round Hill Music Royalty Fund and One Media iP Group are listed on the London Stock Exchange. It is the first to trade in the US and the first to be led by a woman, CEO and founder Golnar Khosrowshahi.

This access to public markets is a testament to the growth and bright future ahead within the industry, Khosrowshahi said in a statement Thursday. While we focus on our growth, our listing on Nasdaq provides us with the resources to execute on our emerging market penetration and move forward quickly with our strategic acquisitions.

Reservoirs’ songwriting catalog, which receives 62% of the net publisher’s share of songs released since 2000, includes shares of DaBabys Rockstar, Childish Gambinos This is America and Black Eyed Peas I Gotta Feeling. Older classics include Johnny Cash’s Ring of Fire and Madonna’s Papa Dont Preach. Reservoir also holds more than 26,000 copyrights on sound recordings by artists such as The Isley Brothers, Sinead OConnor and Naked Eyes.