Bearish
Spotify's stock drops 6% amid technical glitch and analyst downgrade
In the past 24 hours, Spotify's stock declined by 6% following a technical issue that exposed Premium subscribers to ads and downgraded their accounts to the free tier. Additionally, Evercore ISI reduced its price target for Spotify from $700 to $650, maintaining an Outperform rating. These developments have raised concerns about user experience and investor sentiment.
Key points
- Technical glitch affects Premium subscribers, leading to a 6% stock decline.
- Evercore ISI lowers Spotify's price target to $650, citing currency fluctuations.
Sources
AI-generated from public news sources. Not financial advice.
