Spotify makes its stock market debut

Press release as received by Jem Girl at the Piano from Hargreaves Lansdow
Spotify launched directly onto the New York Stock Exchange today, with the shares initially changing hands on the public market for $166 a pop, significantly higher than the $132.50 which was the highest price previously paid for the shares in private transactions.
The company has chosen the unusual route of a direct listing on the New York Stock Exchange, so we can probably expect a bit of a choppiness in the price throughout the remainder of the US trading session.
Laith Khalaf, Senior Analyst, Hargreaves Lansdown:
‘Spotify is floating on the stock market at a pretty inauspicious time for the tech industry, which has been rocked by the Facebook data scandal and now potentially faces greater regulation as a result. Donald Trump’s tweeted attacks on Amazon don’t help lift sentiment towards the sector either.