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Stock Alert: Spotify Shares Up 7%

(RTTNews) – Spotify Technology S.A. (SPOT) shares are rising as it signed an exclusive multi-year licensing deal with The Joe Rogan Experience. Currently, the shares are at $187.79, up 7.12 percent from its previous close of $175.03. The shares have been on a bullish trend and trading above its 200-day moving average since early May and are currently at a 52-week high. For the one-year period, the shares have traded in a range of $109.18-$184.91 on average volume of 1,583,607. Earlier on April 29, the company had reported a narrower operating loss of 17 million euros for the first quarter, compared to loss of 47 million euros a year ago. On a per-share basis, loss was 0.20 euros, narrower than 0.79 euros a year ago. Revenue for the quarter was up 22 percent to 1.85 billion euros from the previous year.

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