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SPOTIFY STOCK SOARS (UPDATE)

UPDATE: Spotify's stock increased as much as 9% on Thursday as it closed at an all-time high of $267 per share. The extra surge followed an updated Goldman Sachs review, raising its price target from $205 to a street-high of $280. 

The firm pointed to recent major podcast acquisitions, along with new advertising technology to boost revenue and subscribers. 


The dramatic surge in Spotify’s stock price—it closed at $236 per share Monday, double its price of $118 just three months ago—has analysts such as CNBC’s Jim Cramer speculating it’s the next Netflix.

Netflix is considered the best-performing stock over the last 10 years, its price increasing to $468 on Monday from $16.71 in July 2010. The driving factor has been original programming and in Spotify’s case, that’s podcasting.

Spotify jumped 12.74% on 6/18, the day it announced a podcast programming deal with Warner Bros. and DC. That deal came a day after news leaked out that Kim Kardashian West had signed on to do a criminal-justice podcast.

Podcasting king Joe Rogan signed a deal in late May, close to a month after Spotify released its first-quarter earnings results. Since the results announcement, the stock has risen 50% from a price of $155.78.

Cramer, host of CNBC’s Mad Money, said on Monday's edition that investors are bullish on the podcast strategy and as long as the subscriber base continues to grow, the stock will keep rising. As the market prepared to open today, the Daniel Ek-led Spotify had a market cap of $43.9b, more than double its value in October.

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