SPOT - Spotify Stock Sinks As Market Gains: Here's Why | Benzinga
In the latest trading session, Spotify (NYSE: SPOT) closed at $324.75, marking a -0.59% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 1.19% for the day. Meanwhile, the Dow gained 0.25%, and the Nasdaq, a tech-heavy index, added 1.96%.
The music-streaming service operator's shares have seen an increase of 9.61% over the last month, surpassing the Business Services sector's gain of 0.48% and the S&P 500's gain of 3.35%.
Market participants will be closely following the financial results of Spotify in its upcoming release. The company is forecasted to report an EPS of $1.08, showcasing a 163.91% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $4.08 billion, reflecting a ...