RUMOR MILL
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.
NOW WHAT?
We have no fucking idea.
COUNTRY'S NEWEST DISRUPTOR
Three chords and some truth you may not be ready for.
AI IS ALREADY EATING YOUR LUNCH
The kids can tell the difference... for now.
WHO'S BUYING THE DRINKS?
That's what we'd like to know.
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LIVE NATION ROCKS WITH HUGE Q3 RESULTSrumor mail
