You should do your own thorough research before making any investment decisions.
Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. Information on these pages contains forward-looking statements that involve risks and uncertainties. We also note the strong bearish divergence from the Relative Strength Index (RSI). $150 is the point of control and so a strong support. Now that times have changed it is time for a much-needed correction. Basically, the pandemic was the loosest monetary policy in history and stocks surged accordingly. This is happening to many high growth tech names. SPOT has given back most of the pandemic gains. The recent earnings from SPOT compounded this, but we can see some sign of hope. Technically, the chart is strongly bearish. We feel Rumble is unlikely to succeed given that Spotify has an exclusive deal with Joe Rogan. We are not sure how this one is going to play out. CFVI stock closed up over 18% on news of the offer on Monday. So much so that Rumble is due to go public via a SPAC deal with CF Acquisition Corp VI (CFVI). Rumble is a YouTube-esque video sharing platform that exploded in popularity during the pandemic. Now a fresh twist has arisen in the ongoing rumble with news that Rumble has offered Joe Rogan $100 million to move his podcast to their platform. Joe Rogan apologized, saying it was a “most regretful and shameful thing.” The fight took a fresh twist late last week when Grammy-winning artist India Arie posted a video compilation on Instagram apparently showing Joe Rogan using racial slurs. “While I strongly condemn what Joe has said, and I agree with his decision to remove past episodes from our platform, I realise some will want more,” Mr. To recap Neil Young removed his music from Spotify after some content on the Joe Rogan Experience was described as controversial and perhaps could be viewed as an anti-covid vaccine stance. Spotify CEO Daniel Ek was on the wires on Monday saying sorry to Spotify workers for the public drama over the Joe Rogan podcast.
This is a hugely popular podcast that Spotify reportedly paid circa $100 million for. Spotify had enough volatility then without the increasing furor over the Joe Rogan Experience.
Tech names were highly volatile last week as Facebook bombed and then Amazon rocketed. Spotify (SPOT) shares have been rumbling (see what I did there) all over the place lately as tech and growth names take a hit and investor enthusiasm diminishes toward the sector.
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