Spotify stock has lost an astounding 50% of its value over the past year alone, a dip of more than $32 billion in market cap. The exact reasons are difficult to pinpoint, though both internal and external headwinds are broadly driving the plunge. Since November, SPOT has been dropping precipitously, with broader economic concerns and anticipated rate hikes by the Federal Reserve dragging Spotify into the red.
Source: Spotify Stock Has Lost 50% of Its Value In the Past Year