Universal Music’s Spotify Stock Could Be Worth $2B

Universal Music Group still owned 6.487 million shares of Spotify — or 3.59% of outstanding shares — on Dec. 31, according to detailed financial results the company disclosed Wednesday in anticipation to being publicly traded by the end of September.
On Dec. 31, 2020, Spotify closed at $314.66 per share but has fallen since and on Friday (May 14) it closed at $223.59. Since UMG put the average share purchase price of 6.58 euros ($8.10) on April 13, 2018, the day Spotify shares began