Spotify (SPOT) Stock Makes Major Moves: Shares Explode Nearly 7% Higher
NEW YORK – Spotify Technology SA (NYSE: SPOT) shares experienced a significant rally on Thursday, May 2nd, closing the trading session with substantial gains and reaching a new yearly high.
The audio streaming platform’s stock finished the day at 644.00 USD. This closing price represented a major jump of +41.74 USD, translating to a robust +6.93% increase compared to the previous day’s close of 602.26 USD.
Spotify started the trading day at 614.98 USD. Strong buying pressure pushed the stock upwards, achieving an intraday high of 653.32 USD, which simultaneously marked a new 52-week high for the company. The session low was 612.00 USD.
Following the market close, minimal additional gains were seen in after-hours trading. As of 7:28 pm GMT-4, SPOT shares were trading at 644.70 USD, reflecting a further increase of 0.70 USD or 0.11%.
Key market data provided indicates Spotify’s market capitalization is 13.18KCr. The company has a Price-to-Earnings (P/E) ratio of 103.74. According to the data, Spotify does not currently offer a dividend yield.
The achievement of the 653.32 USD 52-week high during Thursday’s session stands in sharp contrast to its 52-week low of 286.20 USD, highlighting significant appreciation over the period.
