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
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