Spotify Strikes the Right Chord
Spotify Technology SPOT unveiled a triumphant second-quarter earnings report, flipping the switch on its bearish trend. The company’s bottom-line earnings of 274 million euros or $298 million eclipsed analysts’ expectations, while the top line matched predictions at 3.8 billion euros. Bolstering this positive performance was a 14% surge in monthly active users and a 12% rise in premium subscribers to 246 million, underscoring Spotify’s growing success in music streaming and podcasts.
Experiencing the MUSQ Melody
In a landscape where Spotify isn’t the sole player, the MUSQ Global Music Industry ETF MUSQ provides investors with a harmonious medley of exposure to the music ecosystem. Offering diversified holdings, MUSQ includes tech giants like Alphabet Inc GOOG and entertainment stalwarts such as Live Nation Entertainment Inc LYV, spreading out market risks across the industry spectrum.
The Sound of MUSQ’s Performance
The MUSQ ETF closed Monday’s session at $24.52, showcasing a steady climb since hitting a recent low in June. Buoyed by Spotify’s robust earnings, MUSQ may be poised for an upswing, having rebounded from a downtrend earlier in the year. The ETF currently trades above its key moving averages, indicating a potential bullish trajectory in the near term.
- Will MUSQ ride Spotify’s momentum to new heights?
- Is a U-shaped recovery in store for the ETF?
- With positive sentiment building post-Spotify’s results, MUSQ’s outlook appears promising.
- Trading above key moving averages, MUSQ signals market health and growth potential.
Featured photo by javier dumont from Pixabay.