Spotify Technology S.A. (SPOT): A Bull Case Theory

We came across a bullish thesis on Spotify Technology S.A. on Investment Ideas by Antonio’s Substack by Antonio Linares. In this article, we will summarize the bulls’ thesis on SPOT. Spotify Technology S.A.’s share was trading at $703.79 as of August 20th. SPOT’s trailing and forward P/E were 156.62 and 73.53 respectively according to Yahoo Finance.

Music, Studio

Photo by Tanner Boriack on Unsplash

Spotify’s Q2 2025 earnings call highlighted three critical developments that suggest its value...