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Posted by
Two Blokes Jul 12 -
Filed in
Stock
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9 views
Spotify has been "running hot," and the stock now trades near all-time highs, up 770% since late 2022. While gross margins have improved and the company is now profitable on a GAAP basis, we don't think continued, structural margin gains are likely. At the same time, the stock is trading at an "extreme" valuation and looks too expensive given revenue growth.
