Up Almost 100% This Year, Is It Time to Sell Spotify?

Investors in Spotify (NYSE: SPOT) have gone on a rollercoaster ride in the last few years. Shares rallied more than 100% in late 2020 and early 2021, but went into a steep decline during the 2022 bear market after the company failed to reign in costs and reach profitability. Meanwhile, 2023 has been a lot kinder to shareholders, with the stock up 85% year to date (YTD) as of this writing -- likely due to the general bull market, cost-cutting measures from management, and impressive first-quarter growth numbers for the music and audio streaming platform.