[UPDATE 2, Spotify is madeits stock available to the public for the first time today in an unusual direct offering. While still an unprofitable company, Spotify has bested tech giants Apple, Amazon and Google to become the dominant player in music's dominate format - streaming.
But will that be enough to make its stock soar at a time when the markets, and in particular tech stocks, are reeling from trade wars and Presidential tweets?
Here's what Wall Street thinks:
"$20-$25 Billion" and "Uncertainty" - The Guardian
"Analysts expect it to be valued at $20bn-$25bn, although the listing is also something of a plunge into the unknown for potential investors."
"The element of uncertainty could cause peaks and troughs in the price of Spotify shares, according to Laith Khalaf of stockbroker Hargreaves Lansdown."
“This approach will save the company money, but will probably lead to volatility when the stock starts trading, as the market tries to find a price it’s comfortable with,” he said.
"$160 to $220 pers share" and " early investors could see massive losses" - CNN Money
"an unusual IPO process has analysts effectively throwing up their hands about what to expect when the streaming music service goes public Tuesday."
"Analysts have pinned the price target for the stock at anywhere from $160 to $220 per share. Spotify has said the price and volume of trading "may be more volatile" because of the direct listing approach."
"If insiders decide to dump their shares, early investors could see massive losses"
"Spotify Analysts Are Falling for a Stock That Hasn't Traded Yet" - Bloomberg
"Four analysts have released bullish research on the music-streaming company this week ahead of an unusual direct listing on April 3."
"Atlantic Equities LLP analyst James Cordwell and RBC Capital Markets analyst Mark Mahaney both suggested buying Spotify for its leading role in a global market. But the bulls still disagreed on a price - their targets are 38 percent apart from each other."
"Greater Volatility Than Usual" - Wall Street Journal
"Investors in Spotify Technology SA could be in for a turbulent Tuesday as the company uses an unorthodox maneuver to go public on the New York Stock Exchange, without many of the protections built into a standard initial public offering."