Why Spotify Stock Is Climbing 12.4% This Week
Shares of Spotify (NYSE: SPOT) are climbing this week after it got some bullish news regarding its relationship with rival Apple (NASDAQ: AAPL). After the market close on Thursday, the stock is up 12.4% so far this week.
Apple, which owns one of the two dominant mobile app stores along with Alphabet's (NASDAQ: GOOG)(NASDAQ: GOOGL) Google, announced on Wednesday that it would allow certain applications to directly link to websites that bypass Apple's payments network. This would allow companies like Spotify to more easily let customers skip Apple's app store commissions.
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Source Fool.com
