Spotify Stock Is Set to Explode

By Travis Hoium – Jun 12, 2023 at 11:30AM

NYSE: SPOT

Spotify Technology

Market Cap

$56B

Today's Change

(-2.03%) -$5.80

Current Price

$280.44

Price as of April 30, 2024, 4:00 p.m. ET

If Spotify's growth continues, this could be a great stock as costs get under control.

Spotify (SPOT -2.03%) has announced another round of layoffs, but there's a clear reason for it right now. The company is getting lean and solidifying its position in podcasts. Travis Hoium discusses the latest in this video.

*Stock prices used were end-of-day prices of June 7, 2023. The video was published on June 8, 2023.

Travis Hoium has positions in Spotify Technology. The Motley Fool has positions in and recommends Spotify Technology. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.