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01-30-2022, 02:15 PM
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#286
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,643
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How does it cost Spotify anywhere near $4B to pull Neil Young's music? I don't doubt your number, I just find it incredible. Yeah, Neil Young is a legend in the music industry...but still...
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01-30-2022, 02:32 PM
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#287
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Registered User
Join Date: Jan 2010
Posts: 2,176
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Quote:
Originally Posted by PaceAdvantage
How does it cost Spotify anywhere near $4B to pull Neil Young's music? I don't doubt your number, I just find it incredible. Yeah, Neil Young is a legend in the music industry...but still...
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I said that was totally false. A drop in market cap isn't a real cost. And it was only $2 billion. That's what the MSM has been reporting. I'm kind of agreeing with Scott Adams(Dilbert guy) that almost all news is fake, or mostly fake. That number is all over twitter since Friday.
__________________
One of the downsides of the Internet is that it allows like-minded people to form communities, and sometimes those communities are stupid.
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01-31-2022, 10:35 AM
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#288
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Registered User
Join Date: Jan 2010
Posts: 2,176
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Quote:
Originally Posted by FakeNameChanged
Almost everyone has heard about the Neil Young vs Joe Rogan controversy with Spotify($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 $22.4 billion higher than the day they announced pulling his music. Their stock price has been in a free-fall for months(see chart). And they have a forward P/E of -428! But their numbers look like they're improving.
I say wait and let the dust settle, this may be a nice contrarian play.
https://schrts.co/zmAhwkDK
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Big gap up today, over 10%.
__________________
One of the downsides of the Internet is that it allows like-minded people to form communities, and sometimes those communities are stupid.
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02-01-2022, 12:30 PM
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#289
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Registered User
Join Date: Jan 2010
Posts: 2,176
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Quote:
Originally Posted by FakeNameChanged
Almost everyone has heard about the Neil Young vs Joe Rogan controversy with Spotify($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
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Wow, up $30 since Neil Young's announcement. That worked out well for the censor crowd. Ouch, lol.
__________________
One of the downsides of the Internet is that it allows like-minded people to form communities, and sometimes those communities are stupid.
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