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Has Spotify Stock Hit Bottom?

TheMotleyFool

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Spotify Technology's (NYSE: SPOT) key performance metrics surpassed management's guidance in the first quarter. Monthly active users grew 19% year over year to 422 million, which led to a 24% increase in revenue.

Yet the stock plunged to a new 52-week low of $95.22 following its first-quarter earnings report. The shares have recovered somewhat since and currently trade at $109.

Is it time to buy?

Source Fool.com

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