2020 Wrapped: Is Spotify Stock a Buy?
Spotify's (NYSE: SPOT) business hasn't skipped a beat amid the COVID-19 pandemic. Its stock price has more than doubled year to date as investors catch on to how meaningfully its podcast investments could pay off over time.
Let's recap 2020, dive into what's to come, and then determine whether the stock is still a buy.
Spotify has had a phenomenal year despite the pandemic. The company's total monthly active users (MAUs) were 29% higher at the end of September versus the prior-year quarter, and the midpoint of management's fourth-quarter guidance suggests more than 26% MAU growth for the year. Within that figure, management expects Premium subscribers to grow 23%.
Source Fool.com
