Quote:
Originally Posted by FakeNameChanged
Almost everyone has heard about the Neil Young vs Joe Rogan controversy with Spotify($SPOT). Now I confess to knowing very little about SPOT's business model, but all this bad press may make it a great Contrarian play going forward.
Everyone has wrongly reported that it cost Spotify $4 billion to pull Neil Young, which is totally false. Their market cap the day before they announced they were pulling Neil Young's music was $35.2 Billion(1/25/22). On 1/28/22, it was $33.1 Billion or $2.1 billion.
On Nov. 1, 2021, at their most recent high, their market cap was $57.6 billion or $22.4 billion higher than the day they announced pulling his music. Their stock price has been in a free-fall for months(see chart). And they have a forward P/E of -428! But their numbers look like they're improving.
I say wait and let the dust settle, this may be a nice contrarian play.
https://schrts.co/zmAhwkDK |
Wow, up $30 since Neil Young's announcement. That worked out well for the censor crowd. Ouch, lol.
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