2 Reasons to Buy Spotify Stock Right Now
Spotify Technologies (NYSE: SPOT) has more than doubled its revenue and monthly active users since its initial public offering (IPO) four years ago.However, the stock has underperformed over that time, going down 39% since Spotify's IPO.
A stock will catch up with the underlying company's financial performance in the long run. The good news is that Spotify is steadily adding new users even in a challenging economy. Here are two reasons the stock is a buy for the long term.
No matter what comes along to compete for people's time, such as video games or social media, music has always been in demand. Over the last few decades, music streaming has emerged as the largest driver of growth in the $28 billion global recorded music industry.
Source Fool.com
