Despite lately reaching a document 87 million customers, Spotify has fallen beneath itemizing worth for the primary time since going public in April.
The Stockholm-based music large fell to a document low $126.75 on Monday 13th November, earlier than ending the day at $131.31.
Some tech corporations have identified that the weak point throughout know-how typically has contributed to this, and the Dow Jones has additionally gone down – however Spotify doesn’t appear to be recovering on the identical fee as the remainder of the market.
The information comes after varied executives have been leaving the corporate, whereas the streaming service has additionally misplaced three main markets to Apple Music – particularly the US, Canada, and Japan.
It was introduced earlier this 12 months that artists would be capable to add tracks on to Spotify totally free.