Spotify's Stock Market Debut Strikes a Chord with Investors

From

5 April 2018 11:44 WIB

Traders react as they wait for shares of Spotify to begin selling as a direct listing on the floor of the New York Stock Exchange in New York, U.S., April 3, 2018. Spotify's opening act on Wall Street struck a chord with investors betting the unprofitable company's trend-setting music streaming service will maintain its early lead over Apple and other powerful challengers. REUTERS/Lucas Jackson

5 April 2018 00:00 WIB

A trader is reflected in a computer screen displaying the Spotify brand before the company begins selling as a direct listing on the floor of the New York Stock Exchange in New York, U.S., April 3, 2018. After several hours of anticipation Tuesday morning, Spotify's shares traded as high as $169 in their stock market debut before falling back slightly. The stock closed at $149.01 well above its previous high of $132.50 in deals worked out during Spotify's 12-year history as a privately held company. REUTERS/Lucas Jackson

5 April 2018 00:00 WIB

Specialist Peter Giacchi calls out prices to traders during the Spotify IPO, on the floor of the New York Stock Exchange, Tuesday, April 3, 2018. Spotify, the No. 1 music streaming service which has drawn comparisons to Netflix, is about to find out how it plays on the stock market in an unusual IPO. The stock market's warm welcome left Spotify with a market value of about $27 billion, according to FactSet. By comparison, internet radio station Pandora Media's market value stands at $1.2 billion nearly seven years after that company went public. AP Photo/Richard Drew

5 April 2018 00:00 WIB

Specialist Peter Giacchi, center, declares Spotify's IPO open on the floor of the New York Stock Exchange, Tuesday, April 3, 2018. The performance left Spotify's market value among the 10 highest ever recorded by a technology company following their first day of U.S. trading, according to Dealogic. Chinese e-commerce company Alibaba Group holds the top spot at $234 billion after its market debut in 2014. AP Photo/Richard Drew

5 April 2018 00:00 WIB

Specialist Peter Giacchi, center, stands on the floor of the New York Stock Exchange, Tuesday, April 3, 2018. Spotify CEO Daniel Ek who founded the company, emerged as the day's biggest winner. His 27 percent stake in the Swedish company is now worth $7.4 billion. The good vibes surrounding Spotify stem from its early lead in music streaming a still-evolving field trying to hook people on the idea that it's better to subscribe for online access to millions of tunes than to buy individual albums and singles. AP Photo/Richard Drew

5 April 2018 00:00 WIB

The logo for Spotify appears above the post where it trades on the floor of the New York Stock Exchange, Wednesday, April 4, 2018. Spotify has attracted 71 million worldwide subscribers so far and is aiming to increase that number to as many as 96 million subscribers by the end of the year. It has 159 million total users, including people who are willing to listen to ads for access to free music. AP Photo/Richard Drew

5 April 2018 00:00 WIB