Why Spotify Soared 25% in April

Shares of Spotify (NYSE: SPOT) soared 24.8% in April, according to data from S&P Global Market Intelligence.

That move sent the stock from $121 per share to $152 per share during the month. For context, the stock had traded as high as $155 in February before the COVID-19 panic began in the U.S. and bottomed around $118 per share in March. 

The big news in April was Spotify's first-quarter earnings report, which was released last Wednesday. The company grew monthly active users (MAUs) by 31% to 286 million, premium subscribers by 31% to 130 million, and ad-supported MAUs by 32% to 163 million.

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Source Fool.com