Spotify Earnings Tomorrow
Spotify earnings come out tomorrow and we highlight two options here the $280 Call and the $260 Put expirying Friday and with the stock trading near $267.
Spotify has had a big run here from a low of $109 in mid March to nearly $300 just a few days ago. Obviously some smart players took profits off the table here before earnings. It seems obvious to us that the trend is up. It seems as if Spotify is not effected like a traditional business would be given the Covid lockdown and if anything more users probably enjoyed their services than would have otherwise given their normal every day lives. However the app does cost money and let’s just see how they fare tomorrow.
Zach’s estimates call for a Q2 loss of 0.49c, here is the chart and the uptrend is supported by the low RSI and we aren’t going to opine on the directionality only point out that this thing has run up some $150 off its lows just a few months ago, but its trend is clearly up for now:
-Magnelibra Econemotions
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