Spotify set to go public

Local News

The anticipated public listing of spotify is set to hit wall street Tuesday.

Spotify is going public without the help of investment bankers or underwriters. 

The company isn’t raising any capital… 

Instead, it will allow its existing shareholders to buy and sell their existing shares on the New York stock exchange. 

What the price does will depend heavily on their psychology. 

If shareholders dump their stock en masse, it will push the price down dramatically. 

Analysts are predicting the price to stabilize between 160 to 220 dollars per share, but volatility could be extreme. 

Spotify has been the darling of streaming music for a decade. 

It has more than 70 million paying customers, about twice as many as rival apple music. 

But even though the company predicts sales of six-point-five billion dollars this year, it anticipates losing 400 million dollars when all is said and done. 

That’s down from the 460 million the company lost last year.  

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