1 No-Brainer Stock to Buy With $350 and Hold for 10 Years
Spotify (NYSE: SPOT) is the world's largest music and podcast streaming platform by number of users, but it also consistently leads the way on the innovation front. The company is experimenting with technologies like artificial intelligence (AI) to create a more exciting user experience, which could boost engagement and cement its dominance in the industry.
Spotify just released its financial results for the second quarter of 2024 (ended June 30), and its stock soared 12% on the day. The company has spent the past year carefully managing costs to improve its profitability, much to the delight of investors. But CEO Daniel Ek recently outlined an ambitious target for the business by 2030, so this isn't a one-quarter story.
Spotify stock is closing in on a new all-time high, but investors with a spare $350 still might want to buy it now and hold for the long term. Here's why.
Source Fool.com
