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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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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