​​🎧 Spotify's first day on NYSE

Eschewing the typical #IPO song and dance in favour of a direct listing, music streamer #Spotify made its debut on the New York Stock Exchange (#NYSE) yesterday in one of the most anticipated tech-related offerings since Snap’s IPO in March of last year.

If first impressions count for anything, Spotify’s first day of public trading was mixed. Shares closed down about 10% from their opening price, but above the reference price first set by the NYSE.

Here’s how things shook out:

- NYSE set a reference price of $132
- Shares made their debut with an opening price of $165.90
- Shares peaked at $169 shortly after trading began
- Shares closed at $149.01

🎁 BONUS: Here's How $1 Flows From Spotify to Recording Artists
Each song streamed on Spotify is worth a fraction of a cent, and the ultimate payday for artists is as dependent on their record deal as on their stream count. This summary, based on figures from 2016, examines the path of a hypothetical dollar as it makes its way to three types of artists.

🚀 @PerspectiveIX
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