Spotify: on the stock market it is doing well thanks to Joe Rogan
Is the fight that saw Nei Young quit Spotify in controversy with Joe Rogan, a conservative radio star and vaccine skeptic, bringing good or bad to the music streaming company?
Spotify has been following the NASDAQ for the past 5 days, gaining nearly 4%.
The reality of the action had dropped just after the fight between Neal Young and Joe Rogan began, accentuating a decline that was already in the NASDAQ index. For this reason, some had begun to claim that having preferred Rogan to Neil Young had even led to 2 billion in capitalization losses.
Spotify Lost More Than $ 2 Billion in Market Value After Neil Young Pulled His Music Over Joe Rogan's Podcast https://t.co/CSpsEA1qfo
– Variety (@Variety) January 29, 2022
In reality, Spotify's slight drop is not related to Rogan, but to the fact that Citi has revised target prices for streaming companies, not just Spotify, but Netflix as well.
Spotify's prevailing stock values do not assume substantial subscription growth or an improvement in the economy beyond 2023, Citi analysts said in a statement Monday morning as part of a look at subscriber-based stocks (including Netflix) following a significant pressure.
“ If Netflix and Spotify may see more modest secondary growth, let's see other frontline carriers. For Netflix, we believe the company has broad pricing power. For Spotify, we believe the company can improve ad-supported monetization ",
They lowered their target prices on Netflix, Spotify, Roku, DraftKings, and Robinhood, with Netflix's target dropping to $ 450 from $ 595. Spotify's target was lowered to $ 240 from $ 275, still considerably at above current levels. So Rogan has perhaps even improved the prospects of a technological society, but in reality it is mature.
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The Spotify article: the stock market is doing well also thanks to Joe Rogan comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/spotify-in-borsa-va-benino-anche-grazie-a-joe-rogan/ on Tue, 01 Feb 2022 10:00:04 +0000.