Spotify Stock Rises After FC Barcelona Deal

Spotify stock is recently removed from two-year lows

Deputy Editor
Mar 16, 2022 at 9:35 AM
facebook X logo linkedin

The shares of Spotify Technology Sa (NYSE:SPOT) are up 2.2% to trade at $126.58 ahead of the bell, after the streaming platform announced a major sponsorship deal. Specifically, Spotify signed a stadium and shirt deal with FC Barcelona, in which the company's brand will appear on the Spanish soccer team's jerseys for the next four seasons. 

Today's positive price action is giving Spotify stock a nifty little bump, as it's coming off a March 14 two-year low below the $120 level. Pressured by the 20-day moving average over the course of 2022, SPOT has shed 47.1% year-to-date. Longer-term, the equity is off by more than 56% year-over-year.

Sentiment surrounding the stock has been less than stellar of late. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), SPOT’s 50-day put/call volume ratio of 1.28 sits higher than 98% of readings from the past year. This indicates long puts have been picked up at a much quicker-than-usual clip in the last 10 weeks.  

Short sellers are piling Spotify stock as well, with short interest up nearly 31% in the last two reporting periods. The 6.34 million shares sold short now account for a 4.5% of the stock's available float, or more than two days' worth of pent-up buying power.



Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI