tsla

Spotify Stock on the Rise After Google Updates Payment Program

The stock is coming off two-year lows, hit earlier this month

Digital Content Manager
Mar 24, 2022 at 9:42 AM
facebook X logo linkedin


The shares of Spotify Technology SA (NYSE:SPOT) are up 4.9% at $155.90 this morning, following news that Alphabet's (GOOGL) Google will begin letting the streaming platform use its own payment system in its Android app. The move is part of Google's new pilot payment system, and will allow user to decide weather they want to pay through the Google Play Store or Spotify's payment program. 

The equity is coming off a two-year low of $118.20, touched on March 14. Thanks to today's pop, SPOT looks ready to topple pressure at its 40-day moving average for the first time since mid-November. The security is still down roughly 36% this year. 

Options bears have taken this time to target the streaming stock. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) 1.31 puts have been picked up for every call during the past 10 weeks. This ratio stands higher than all but 1% from the past 12 months, implying a much heavier-than-usual appetite for long calls of late. 

Short sellers have also been building their positions, with short interest surging 30.9% in the last two reporting periods. Despite this, the 6.34 million shares sold short make up a relatively slim 4.5% of the stock's available float, and less than three days' worth of pent-up buying power. 

Analysts have remained optimistic. Of the 16 in coverage, 12 say "buy" or better, while the 12-month consensus price target of $237.28 is a 51.1% premium to last night's close. 

 

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.