SPOTIFY’S STOCK MARKET DEBUT STRIKES A CHORD WITH INVESTORS
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.
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.
The stock market’s
