When the green machine landed on the New York Stock Exchange on April 3, it finished that day with a market cap value of $26.5bn, or $149.01 per share.
Three months later, in mid-July, Spotify’s valuation had topped $33bn, with a share price of over $188. Then, Spotify hit its peak: on July 26, SPOT closed on the NYSE at $196.28 per share, with a market cap in excess of $35bn.
Since that late July peak, Spotify’s share price has tumbled dramatically – falling by circa 25%, amid a sore time for tech stocks in general.
Three months on from its summer high, Spotify’s valuation is now below where it stood at the bell on April 3. At the close of the NYSE today (October 24) Spotify’s share price was at $146.32. Its market cap: $26.1bn. From its $35bn-plus market cap in late July, Spotify has seen just over $9bn wiped off its public valuation. Source: MBW