Spotify’s once-heady stock has now tumbled below its opening price in 2018, with potentially further downward pressure ahead. In Wednesday (February 23rd) trading, Spotify stock (SPOT) dropped below its symbolic $147.92 valuation, established on the company’s first day of trading on the New York Stock Exchange. The drop means that Spotify stock has lost an astounding $16.57 billion in market cap in 2022 alone.
