For investors who plan ahead, stock market downturns are the time to pull out their stock shopping lists and take advantage of marked-down prices. There's no doubt in my mind that a wholesale market correction would push the stock price of Spotify (NYSE: SPOT) lower. Spotify is cash-flow-positive.
Spotify (NYSE: SPOT) thinks it can reach 1 billion users by 2030, and it's nearly halfway there after a stellar 2022. The streaming music leader added more than 80 million listeners last year, up 20% and accelerating growth from 2021. Spotify is seeing particular strength in a few key areas that bode well for the future listener, subscriber, and earnings growth of the company.
Spotify (NYSE: SPOT) is known as a leader in music streaming, but it's becoming much more than that. The company has moved into podcast and advertising and is now building out creator tools that could make it a social network for creators.