January 31, 2022

Spotify Stock Rises Despite Predictions of Doom

Jason Foster observes:

Gotta wonder what kind of glue people are sniffing. Breathless articles were circulating about how Spotify lost $2 billion in market cap, allegedly because of dropping Neil Young in favour of Joe Rogan. So me checks this morning and the stock is actually almost $20 higher than the day Spotify made the announcement.

Tim adds:

These stories are an attempt at a self-fulfilling prophecy. They WANTED the stocks to tank and predicted they would in advance. But really; how many hippies are on Spotify? I mean, most of those ancient codgers can barely work a microwave oven. At this point they aren't a demographic. And who among young people know Young, or Joni Mitchell anyway? It was pure bull from the get-go.

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