Spotify’s Stock Market Success Says Nothing About the Future of Music

Had you invested $1,000 in Spotify on January 1st this year, you could pull out $1,800 right now. Had you invested $1,000 in Spotify in the midst of market-zapping pandemic uncertainty in March, you’d have more than doubled your money. Last Thursday, Spotify’s market cap soared to an all-time high of $49.7 billion — well above what shares traded at when it went public two years ago…

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