Spotify’s market capitalization fell about $2.1 billion over a three-day span this week, coming after folk rocker Neil Young yanked his songs from the audio-streaming giant to protest Joe Rogan’s misinformation-spreading podcast.
Shares of Spotify fell 6% from Jan. 26-28. Over the same time period, the tech-heavy Nasdaq composite index rose 1.7% and the Dow Jones Industrial Average was up 1.1%.
To be sure, Spotify’s stock price was already on the slide — having plummeted 25% year-to-date as of Jan. 25, the day before Young’s catalog was pulled off Spotify.
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Spotify Lost More Than $2 Billion in Market Value After Neil Young Pulled His Music Over Joe Rogan’s Podcast https://t.co/CSpsEA1qfo
— Variety (@Variety) January 29, 2022