But does the single-day bump reflect confidence that the audio streamer is primed for eye-popping revenue gains? Or does the jump merely suggest that Spotify had become a bit undervalued after a down period for streaming and tech stocks?
Investors lauded the ambition, sending Spotify shares up 6% during an otherwise down day in trading. The Swedish entrepreneur delivered Wednesday at the company’s first investor day as a public company, putting a massive growth target into the ether: $100 billion in annual revenue by 2030, roughly 10 times its haul from 2021.
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