The thoughts of a year-long NBA work stoppage greatly affected the stock of The Madison Square Garden Company. Without the Knicks playing, MSG wouldn't be able to fully cash in on the completion of the first stage of its three-year renovation, which will cost more than $850 million.
But now that the owners and players have reached a tentative agreement, with the intention of playing 66 games this year, investors are seeing dollar signs again. The stock is up 12.2 percent over the last two days, after a big day Monday and closing up 1.9 percent on Tuesday. The closing price of $28.91 is an all-time high for the company, which spunoff from Cablevision in February 2010.