Spotify (SPOT) Stock Hits Crescendo: Shares Leap Nearly 7% to New Annual High
NEW YORK – Spotify Technology SA (NYSE: SPOT) shares orchestrated a major rally on Thursday, May 2nd, closing the trading day substantially higher and setting a fresh 52-week record.
The audio streaming service’s stock settled the regular session at 644.00 USD. This marked a significant upward movement of +41.74 USD, translating to a +6.93% gain compared to the previous day’s finish at 602.26 USD.
Spotify began the trading day at 614.98 USD. Fueled by strong momentum, the stock price climbed throughout the session, reaching an intraday peak and establishing a new 52-week high at 653.32 USD. The lowest point touched during the day was 612.00 USD.
Following the market close, minor positive adjustments continued in extended trading. As of 7:28 pm GMT-4, SPOT shares were priced at 644.70 USD, reflecting an additional gain of 0.70 USD or 0.11%.
Market data highlights Spotify’s market capitalization at 13.18KCr. The company currently trades with a Price-to-Earnings (P/E) ratio of 103.74. No dividend yield is currently offered to shareholders, according to the data.
The achievement of the 653.32 USD high during Thursday’s session underscores the stock’s strong performance over the past year, well above its 52-week low of 286.20 USD.
