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Spotify Market Cap Exceeds $100B While HYBE Shares Falter Amid Controversy & Political Turmoil
Spotify's market cap hit $100 billion, HYBE shares fell and more music stock moves this week, including Live Nation and MSG Entertainment.
Spotify continued its remarkable run this week by briefly surpassing a $100 billion market capitalization before falling slightly by the close of trading on Friday (Dec. 6). The $100 billion threshold arrived the same day Spotify launched its 2024 Wrapped, the personalized, data-driven product that breaks down listeners’ streaming time and ranks their most popular artists and tracks. In other noteworthy stock moves this week, HYBE dropped 3.2% to 214,000 won ($150.15) after news broke that South Korean authorities are investigating chairman Bang Si-hyuk for possible violations of the country’s Capital Markets Act.
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