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Friday, May 26, 2023

SIX-MONTH SURGE: SPOTIFY STOCK DOUBLES

With the market's surge ahead of Memorial Day Weekend, Spotify's stock has grown nearly 100% in the last six months. Its market cap has doubled to $29.1b.

In late November 2022, the Spot's stock was hovering around $75; its price on 5/26 was above $150.

At the top of this year, Spotify shifted its aggressive investment in podcasts to refocus on music and "efficiency," as CEO Daniel Ek stated in the January memo announcing Dawn Ostroff's departure. Wall Street and the music biz have been eagerly anticipating a subscription-price increase from the giant global streamer.

In related news, in the last six months our waist size has grown considerably.

TAGS: Spotify | stock market | stocks | Wall Street | Daniel Ek | DSP | streaming | Dawn Ostroff | podcasts
SPOTIFY TOPS 515M  TOTAL USERS
SPOTIFY ANNOUNCES BIGGEST APP OVERHAUL EVER
SPOTIFY'S "FUEGO" LAUNCHES USER-CURATED MIXTAPES
EK PREDICTS: 1B SPOTIFY USERS BY 2030
OSTROFF LEAVES SPOTIFY IN REORG
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