![]() ![]() As a result, it has provided moderate guidance for the coming quarters. Furthermore, SPOT continues to face COVID-19 pandemic-related headwinds. In addition, it has declined 8.6% since reporting its second-quarter earnings results on July 28, due primarily to less-than-expected monthly active user (MAU) growth. However, the stock has lost 30.9% in price year-to-date and 18.8% over the past month to close yesterday’s trading session at $217.42. Also, the Swedish audiobook streaming group Storytel partnered with SPOT in May 2021. Along with strengthening its podcast offerings, the company launched Spotify Greenroom in June 2021, borrowing a page from the famous audio-chat app Clubhouse. ( SPOT ) is a leading music streaming services provider that offers roughly 70 million tracks to millions of consumers in more than 178 countries and territories. Let’s find out.īased in Luxembourg, Spotify Technology S.A. However, can the stock rebound on the back of the company’s positive developments in the podcasts segment? Read on. ![]() The price of Luxembourg-based music streaming giant Spotify’s (SPOT) shares have fallen 30.9% so far this year due to pandemic-related headwinds and less-than-expected MAU growth in its last reported quarter.
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