Spotify stock fell 4.88% on Monday to close at at $139.11, an all time end of day low for the streamer. That’s a fall of 24% in the last month. Spotify’s market cap is now $25 billion, down 30% from a summer peak of a $198.99 per share price and $35.29 billion market cap.
Downward pressure from the overall market is certainly making matters worse for Spotify. MarketWatch reports that so far this month the Dow is down 6% , the S&P 500 down 4.7% percent and the Nasdaq is off 10.3%.
But Spotify’s tumble is two to three times that of the indexes, and despite some bullish forecasts from analysts, the fall has investors worried ahead of Thursday’s Q3 Earnings call,
Spotify Q3’18 Earnings Call
Date: Thursday, November 01, 2018
Time: 8:00 AM Eastern Daylight Time
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