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# Spotify Ends Solid First Trading Day At $26.7B Valuation
- URL: https://www.hypebot.com/spotify-ends-solid-first-trading-day-at-267b-valuation/
- Published: 2018-04-03T17:49:32.000Z
- Updated: 2018-04-03T17:49:32.000Z
- Description: Spotify stock ended its first day as a public company with a valuation of $26.7 billion. The stock closed at $149.95 as more than 3o million shares traded hands at. Continue reading [https://www.hypebot.com/hypebot/2018/04/spotify-ends-solid-first-trading-day-at-267b-valuation.html]
- Author: Bruce Houghton
- Tags: Music Business, Music Tech, Startups & Funding, Streaming, IPO, music, music industry, musician, musicians, NYSE, Spotify, #wp, #wp-post, #Import 2026-01-21 10:05

[![image from www.hypebot.com](http://hypebot.typepad.com/.a/6a00d83451b36c69e201bb0a00e303970d-200wi "image from www.hypebot.com")](http://hypebot.typepad.com/.a/6a00d83451b36c69e201bb0a00e303970d-popup?ref=hypebot.com)Spotify stock ended its first day as a public company with a valuation of $26.7 billion. The stock closed at $149.95 as more than 3o million shares traded hands at between $148.26 to and $169\. The closing price was 14% of the $132 reference price set by the New York Stock Exchange prior to the start of trading. But while it was a solid start for Spotify, particularly at a time when the markets are volatile, there were some signs of choppy waters ahead.Spotify stock opened the day at $165.90 with a total of 5.6 million shares changing hands in the first trade. The closing price of $19.95 was 9% lower than that, and after hours trading was even lower, hovering around $149\. Analysts are also worried about Spotify's path to profitability. Gabelli & Co. analyst John Tinker initiated his [coverage](https://www.marketwatch.com/story/spotify-initiated-with-hold-at-gabelli-analyst-worries-about-apple-competition-record-label-leverage-2018-04-03?ref=hypebot.com) of Spotify with a "hold" rating. "Apple is growing faster than Spotify and has a different business model whereby music does not have to be profitable on a standalone basis," Tinker wrote. He predicted $130 per share market value for the stock this year.

**MORE: [What Analysts Are Saying About Spotify](https://www.hypebot.com/what-analysts-are-saying-about-spotify-on-eve-of-stock-offering-is-pretty-scary/)**