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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)