Spotify stock rallied in premarket trading this morning after dipping lower on Thursday. Investors weren’t quite sure what to make of the music steaming firm’s direct listing, as it didn’t follow the standard initial public offering process. Many outlets are calling it a “non-IPO” because the company went public by opening up its existing shares to public trade rather than by listing new shares through an IPO.
Now that analysts have had some time to evaluate the company and its public listing, we’re starting to get some bullish opinions on Spotify stock, including some comparisons to Wall Street darling Netflix.
Spotify compared to Netflix