Is Spotify Stock a Buy Now?
It has been a volatile stretch for Spotify (NYSE: SPOT) investors. Shares of the audio streaming specialist have pulled back significantly from their 52-week high of $785, trading around $483 as of this writing. In addition, the stock is down about 17% year to date.
This sharp decline comes even though the company posted exceptional fourth-quarter financial results in February.
A pullback like this, even as the business thrives, may leave many investors wondering whether the sell-off has created a buying opportunity. After all, the underlying business continues to grow rapidly, with profit margins expanding.
Source Fool.com
