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Why Spotify Stock Was Down 20% Last Month

Why Spotify Stock Was Down 20% Last Month

Shares of audio platform Spotify Technology (NYSE: SPOT) were down 20.2% in September, according to data provided by S&P Global Market Intelligence. Analyst Barton Crockett of Rosenblatt Securities lowered the firm's price target for Spotify stock from $118 per share to $112 per share on Sept. 7, according to TipRanks. The bigger drop for Spotify stock appeared to coincide with the latest data on U.S. inflation.