Spotify stock bucks market, continues upward trajectory
Spotify stock [NYSE: SPOT] beat the markets both Wednesday and Thursday, rising sharply after the release of its annual Loud & Clear royalty payment transparency report.
On Wednesday, Spotify closed at $535.84, up $27.40 or 5.39%. In comparison, the DOW index was up just 0.20% and the tech heavy NASDAQ rose 1.22%
By close of the markets on Thursday, Spotify was up slightly to $537.91 up $2.07 or 0.39% despite the DOW closing down 1.3% and the tech heavy NASDAQ down 1.96% for the day.
Spotify’s rise started after the new Loud & Clear report showed payments to the music industry of $10 billion in 2024, half of which went to Independents.
Read Hypebot’s full analysis of Spotify’s Loud & Clear report here.
Bruce Houghton
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