Is This Your Last Chance to Buy Spotify Under $100?
Spotify Technology (NYSE: SPOT) stock has closed in the triple digits at the end of 50 of its first 52 months as a public company. Barring a Halloween miracle, this month will be the third time that shares of the global streaming music leader break below $100.
These are tricky times for the platform. Competition is intense. Ad-supported companies are stumbling, and a wobbly economy doesn't bode well for Spotify's more lucrative premium service. The stock took a 13% hit on Wednesday following disappointing quarterly results that confirmed the headwinds that the industry is facing.
What if Spotify isn't just fading out slowly like so many musical tracks over the years? What if the catalysts are there to boost margins, catapult the platform into sustainable profitability, and essentially turn this beat around? Let's see why Spotify may not be trading in the double digits for long.
Source Fool.com
