Spotify To Buy Back $1 Billion Of Stock From Shareholders

Spotify has begun repurchasing $1 billion in stock from its shareholders.

One of the reasons Spotify may repurchase its stock is because it believes it is undervalued and has a lot of room for growth in the future.

Paul Vogel, CFO at Spotify, said: “This announcement demonstrates our confidence in Spotify’s business and the growth opportunities we see over the long term.”