Posted on 01/30/2022 2:27:39 PM PST by yesthatjallen
Spotify lost $4 billion in market value this week after rock icon Neil Young called out the company for allowing comedian Joe Rogan to use its service to spread misinformation about the COVID vaccine on his popular podcast, “The Joe Rogan Experience.”
At the end of the day Friday, Jan. 28, shares of Spotify were down about 12% from where they closed last week, according to data from Nasdaq, against a broader index that was flat over the same period. The hashtags #DeleteSpotify and #CancelSpotify also gained traction on social media, with many websites offering step-by-step instructions for users to remove the app from their devices.
Spotify took down nearly all of Young’s music on Wednesday, Jan. 26, two days after the Rock & Roll Hall of Fame musician reportedly issued the streaming service an ultimatum via his management and record company: “They can have Rogan or Young. Not both.”
SNIP
(Excerpt) Read more at datebook.sfchronicle.com ...
Imagine how much more they would have lost if that had given in to Young’s demands instead.
Yeah, would some tell these retards the whole market has been down > 10% over the last three weeks...
It has the stench of Leftism where they try to rally around a turd like Neil Young to somehow validate him and make it look like he came out on top.
That ruins the narrative.
If they cave to these 60s relics, they’ll lose a lot more.
Well, of REAL subscription $$. Not sure what $ora$$ is offering them.
***Tencent (China) - or others from the following list - shorting the stock! wouldn’t be surprised, given who benefits from the covid scam:
Spotify: The top institutional shareholders of Spotify are Daniel G. Ek, Sven Hans Martin Lorentzon, Baillie Gifford & Co., Morgan Stanley (MS), Tencent Holdings Ltd. (TCEHY), and T. Rowe Price Associates Inc
Top 6 Institutional Shareholders
Institutional investors hold the majority of Spotify’s shares at about 55-57% of total shares outstanding...
Daniel G. Ek
Daniel Ek owns 34.5 million shares of Spotify, representing 18.2% of total shares outstanding, according to his 13G filing for the period ending December 31, 2019.4 Mr. Ek is the co-founder and chief executive officer (CEO) of Spotify. He founded the company in 2006 with his business partner, Martin Lorentzon...
Sven Hans Martin Lorentzon
Martin Lorentzon owns 22.4 million shares of Spotify, representing 11.8% of total shares outstanding, according to his 13G filing for the period ending December 31, 2019...
Baillie Gifford & Co.
Baillie Gifford owns 21.4 million shares of Spotify, representing 11.3% of total shares outstanding...
Morgan Stanley
Morgan Stanley owns 17.9 million shares of Spotify, representing 9.5% of total shares outstanding...
***Tencent Holdings Ltd.
Tencent Holdings owns 16.6 million shares of Spotify, representing 8.8% of total shares outstanding, according to the company’s 13G filing for the period ending December 31, 2019.4 Tencent is a China-based multinational technology holding company whose subsidiaries provide social networking, e-commerce, mobile games, Internet services, payment systems, entertainment, and more. The company also maintains a portfolio of equity securities. Spotify is among one of its top 10 holdings...
T. Rowe Price Associates Inc.
T. Rowe Price Associates owns 13.4 million shares of Spotify, representing 7.1% of total shares outstanding...
https://www.investopedia.com/news/top-3-spotify-shareholders/
If they hold the line they’ll gain.
Tech has all been selling off recently.
They’re making up news.
The whole market tanked in the past month, especially tech stocks. Last month was a bloodbath for everyone.
It wasn’t Joe Rogan, it was Let’s go Brandon.
Spotify supported Rogan while throwing out trinkets to the left and still lost $2B in value. Investors see a bunch of artists following Neil Young and revenue going down. But a lot of it is skittish behavior anytime there is controversy associated with a business .
The key thing will be to watch the longer trend line. Spotify may do OK if they don’t cave.
There goes their narrative.
Temporary paper loss versus their integrity 🤪
Come on folks... Send them some financial love...
The market is reactive. The haters will tire and move on, and the stock will rebound. If Spotify had cancelled Joe Rogan their stock would have tanked hard and they would have seen a mass exodus of subscribers.
I’m thinking about it, but they’ll probably cave.
LMAO.
All the while, Rogan laughs all the way to the bank.
Fake News - straight, no chaser
If they cave, watch them really tank. The Democrats will have to start paying them like they do their media.
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