On February 19, 2021 Spotify shares closed at a record high of $364.59. The company’s market cap was north of $69 billion.
Today, the stock is trading below $80 a share, down roughly 70% in 2022 and off nearly 80% from that record close. Its current market cap? $15 billion.
After a disastrous 2022 for investors, Spotify’s dive into podcasting raises key questions about the company at large:
Does the business model work
How long until sustained profitability?
Is the streaming service losing core appeal for the younger audiences, who are the most avid music consumers?
Has its CEO lost credibility with investors?
The answers to these questions hold the key to whether Spotify can mount a turnaround in the eyes of investors in the years ahead.
Full article: https://finance.yahoo.com/news/spotify-stock-2022-decline-what-happens-next-133312247.html
