11/11/2023 0 Comments Is spotify stock down![]() ![]() ![]() Investors appeared to react to Spotify adding just 2 million Premium subscribers, to reach 182 million, in the first quarter of 2022. That’s down from a high of about $69 billion in February 2021, when the company was riding high on COVID-related tailwinds. The stock ended the day at $96.67 per share, giving Spotify a market capitalization of less than $19 billion. The chief concern pushing the stock down seemed to be that Spotify may be on the same trajectory as Netflix in hitting a wall in subscriber growth. Other factors, market analysts say, include a general bear market in the tech sector, and more recently, the United States continuing to posture with Russia in Ukraine is not helping the investing.Spotify shares closed down 12.4% Wednesday - hitting their lowest point in the company’s history as a public company - after the audio streamer’s paid-subscriber numbers disappointed investors. Even Dwayne “The Rock” Johnson, who once backed Rogan, has walked back his position.Įxperts (like Market Watch) say don’t blame the Rogan controversy-that it doesn’t fall on his shoulders. While Young and other artists like Joni Mitchell, India,Arie, and Nils Lofgren may not be the only reason for this drop, their protests against the popular streaming service certainly haven’t helped. That marks almost a 50% drop since November 1, 2021. Today, on February 16, one share of Spotify stock is valued at $163.91. On January 27, the price per share had plummeted to $171.32. On January 12, just a few days before Neil Young would make his ultimatum to the company, saying it was either him or podcaster Joe Rogan, who Young and others have claimed has been spreading COVID-19 misinformation and racism, the stock was valued at $239.26. On November 1, 2021, shares were valued at $300.95. ![]() As American Songwriter reported earlier this year, Spotify stock (SPOT) has fallen 25% since the turn of 2022. ![]()
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