Spotify Stock Dips Nearly 3 Percent as Investors Await Q1 Earnings Report
Spotify Technology SA (NYSE: SPOT) shares experienced a notable decline during afternoon trading on April 28th. The audio streaming service saw its stock price under pressure as the market anticipates the release of its first-quarter financial results, highlighted by an upcoming earnings call.
As of 1:21 pm GMT-4, Spotify stock was trading at 602.87 USD. This price represented a drop of 17.85 USD, or 2.88 percent, from the previous closing value of 620.72 USD. An upcoming event marker indicates the company’s Q1 Earnings Call is scheduled for 8:00 am GMT-4.
The trading day began with notable volatility for SPOT. It opened significantly higher at 627.50 USD, which also served as the intraday high. However, the early gains were reversed as the stock faced selling pressure, driving it down to an intraday low of 595.00 USD before finding some support and recovering partially to its current level.
Spotify’s current trading price sits within its 52-week range. The stock has achieved a 52-week high of 652.63 USD and recorded a 52-week low of 280.37 USD, indicating significant price movement over the past year.
Key financial data shows Spotify Technology SA with a market capitalization of 12.34KCr. The company currently trades at a Price to Earnings (P/E) ratio of 96.49. According to the available information, Spotify does not presently offer a dividend yield to its shareholders. Investor focus remains on the forthcoming earnings announcement.
