Jun 1, 2018

Spotify has passed its stock price stability test

It's been two months since Spotify went public via a direct listing, and its stock price remains above both its reference point price and where it closed its first day of trading.

Why it matters: Other private tech companies were closely watching Spotify’s approach, for which price stability was a major test. It passed.

Data: Yahoo Finance; Chart: Axios Visuals

Key prices for Spotify:

  • Direct listing reference point price: $132 ($23.6 billion valuation, fully diluted)
  • First trade: $165.90 ($29.6 billion)
  • First day close: $149.01 ($26.6 billion)
  • Today's close: $159.26 ($28.4 billion)

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Spotify will suspend political ads in 2020

Photo: Aytac Unal/Anadolu Agency/Getty Images

Spotify announced Friday that it will suspend political ads in early 2020 for its nearly 130 million ad-supported listeners, Ad Age reports.

The big picture: The streaming giant, which said it lacks the resources "to responsibly validate and review" such content, is the latest tech company faced with attempting to figure out how to best handle misinformation and political ads.

Go deeperArrowDec 27, 2019

Audit report: Tokyo Olympics likely to cost more than $12.6 billion

The National Stadium, venue for the upcoming Tokyo 2020 Olympic Games. Photo: Behrouz Mehri/AFP via Getty Images

Japan's National Audit Board released a report on Friday suggesting the Tokyo Olympics is likely to cost $9.7 billion in addition to the $12.6 billion that organizers are claiming the event's price tag will be, AP reports.

Why it matters: Only $5.6 billion in private money is allocated to fund the Olympics. The remainder of the funds will come from taxpayers across the country, the city of Tokyo and other government bodies, according to AP.

Go deeperArrowDec 21, 2019

A tale of two carmakers: Tesla overcomes Nissan

Data: FactSet; Chart: Axios Visuals

Former Nissan chairman Carlos Ghosn was in pugnacious form on Wednesday during a 145-minute press conference in Beirut, at which he proclaimed his innocence while simultaneously bemoaning the underperformance of the Nissan share price.

By the numbers: Since Ghosn was arrested in November, Nissan's enterprise value has declined to $85 billion from $96 billion, a rate of roughly $36 million per trading day.

Go deeperArrowJan 9, 2020