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Spotify [SPOT] Stock Drops On Threat From Amazon Music [UPDATED]

Spotify New $UPDATE: Spotify stock closed down 4.42% Monday on news that Amazon was close to launching a free ad-supported music service. With the exception of Pandora's radio-like free offering, no other major streamer offers a free music service. Details and analysis here.

Amazon To Launch Free Ad-Supported Music Service To Take On Spotify, Pandora