Get the latest gossip
Spotify Shares Ride Netflix’s Gains, Leading Music Stocks to New Record
The Billboard Global Music Index rose 2.3% to a record 1,595.11, with 12 of the 20 stocks finishing in positive territory this week.
If a rising tide lifts all boats, Netflix’s superlative fourth-quarter earnings report explains why Spotify shares posted yet another positive week. Microsoft, Alphabet and Meta reached new highs this week, though Tesla shares fell 13.6% after the company warned vehicle unit sales in 2024 “may be notably lower” than last year. On Thursday, the U.S. Department of Commerce’s Bureau of Economic Analysis released data that showed gross domestic product grew at a better-than-expected annualized rate of 3.3% in the fourth quarter of 2023.
Or read this on Billboard