Spotify (SPOT) Stock Continues To Fall
Spotify (SPOT) stock fell 2.83% Wednesday after the streamer's Q2 earnings report and news of two major acquisitions. The stock was trading down another 2.21% at $132.46 in pre-market trading Thursday.
Strong user growth and its first ever profitable quarter were offset by lower than anticipated earnings and the acquisition of podcasters Gimlet ($230 million) and Anchor (undisclosed), as part of a buying spree that execs say could top $500 million.
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