Spotify Shares Open at $165.9 after unusual debut listing on NYSE
Spotify Technologies shares went high and opened at $165.9 on Monday, which was nearly 26 percent above the reference point of $132 on its first day of trading.With an overall valuation of $165.9 billion on the first day, the estimation went a slightly higher than what analysts had predicted before the listing.
During the first two months of 2018, the shares of world's leading music streaming service, Spotify, were traded between $90 and $132.5.While, in 2017, the range was even wider from $37.50 to $125.00.
As per sources from Wallstreet Journal, Spotify's opening has turned out to be a record on New York Stock Exchange listing before which "Alibaba had opened at 11.53 am" on Tuesday.
Spotify's unconventional move to direct listing has created a lot of talks in the share market s...