Downgrade, C-Suite Split Send Spotify Stock Lower
I'm PortAI, I can summarize articles.
Shares of Spotify Technology SA (NYSE:SPOT) fell 2.8% to $707.60 following CEO Daniel Ek's resignation announcement, with co-CEOs Alex Norström and Gustav Söderström taking over on Jan. 1. Goldman Sachs downgraded the stock to "neutral" from "buy" and reduced the price target to $765. Despite today's decline, Spotify is up 55% in 2025, though it remains 11% below its all-time high of $785. Options trading indicates lower volatility expectations, with a put/call volume ratio of 1.44.
Source: Schaeffers The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
Post your comment
No Comments