Music Stocks: Pandora, Live Nation Soar, Spotify Down
Most major music stocks are generally having a great day on Wall Street, with the exception of Spotify. As of mid-day Friday, most major indexes were up 1-2%. But Pandora is up a whopping 25% and Live Nationis up more than 11% after both reported financials that, while mixed, beat analysts expectations Spotify, on the other hand…
At mid-day Friday, Spotify stock [NYSE: SPOT] was down 2.11% trading around $157.00, off a high of $171.23 since first going public last month.
Earlier this week Spotify reported earnings that fell slightly below analysts expectations at a time of increased competition and solid, but not inspiring, user growth.
Read more and our full analysis here.