SPOT is trading at $444.39, down 10.4% as profit-taking and broader market weakness offset a strong Q1 earnings report.
- Spotify reported Q1 revenue of €4.5 billion (+14% YoY) and operating income of €715 million, both of which exceeded analyst guidance.
- The sharp decline suggests a sell the news reaction following the initial earnings jump, with a 0.70% drop in the NASDAQ adding downward pressure.
- Thin liquidity in pre-market sessions is amplifying the move away from the April 27 closing price of $495.82.