Spotify stock up 1.8% in premarket trading after falling 12.3% on slower subscriber growth

UPDATED: Spotify [NYSE: SPOT] stock fell 12.32% on Wednesday after the streamer reported user growth that was within its own projections but below analysts’ expectations.

Spotify stock closed Wednesday trading down $36.08 at $256.84 The overall markets had a positive day with the NYSE index ending up .3%

UPDATE: Spotify stick rebounded slightly Thursday morning rising 1.82% in pre-market trading

MORE: Spotify users grew 24% to 356M users but missed Wall Street expectations