Shares of Spotify, the technology platform for paying to listen to music, recorded their biggest daily drop following the drop in the target price estimated by the British brokerage firm Barclays, which reflects the company’s strict expectations for a year to come has faced one of the highest controversies he has faced around the permissibility of keeping controversial content available.
Spotify dropped 16.76% to $ 159.76 per unit on Wall Street in its biggest intraday loss since it started trading on April 4, 2018 in New York.
The sale of Spotify shares is preceded by a decision by analysts at the British bank Barclays that Spotify will end at $ 280 this year, or 9.7% lower than its previous estimate of $ 310.
The reduction is based on the company’s own expectations for the first quarter of 2022, in which they expect to increase their number of users from 406 to 418 million, of which only 3 million will pay new users for the service.
The problem for Spotify is based on the boycott led by Canadian musician and composer Neil Young, who claims the platform does not block fake content about vaccines against Covid-19. Joe Rogan, an exclusive podcaster of the company, is singled out for spreading false information about the vaccine.
Reference-www.eleconomista.com.mx