Ark Investment Management Dumps $18M Spotify Stock Stake

Spotify’s current share price is around $87, which is 71% below its 52-week high. The stock price has shed 15% in the last month alone. Analysts believe Spotify will face higher churn rates due to inflationary pressures and turbulence in Europe and Asia. The company just launched audiobooks in September, but analysts believe they won’t be a significant revenue generator for the company.

Source: Ark Investment Management Dumps $18M Spotify Stock Stake

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