Sonorous Success: Spotify Hits the Right Notes
Amidst the pre-market crescendo, Spotify Technology (SPOT) struck a triumphant chord with its long-awaited second-quarter earnings report. Analysts’ expectations were left in the dust as Spotify orchestrated earnings of 274 million euros, a melodious beat translating to $298 million or 1.33 euros per share. Sales harmonized at 3.8 billion euros, resonating in line with forecasts.
An Industry in Tune: MUSQ Global Music Industry ETF
The MUSQ Global Music Industry ETF (MUSQ) orchestrates an ensemble of companies within the audio content domain. While Spotify commands a significant presence, other players like YouTube Music under Alphabet Inc (GOOG) contribute to the medley. For retail investors looking to tap into this symphony, the MUSQ ETF offers a consolidated entry point encompassing the entire music ecosystem.
Harmonious Diversification: MUSQ’s Melodic Portfolio
MUSQ’s forte lies in diversification, allowing investors a harmonious blend of exposure to various facets of the music industry. With Spotify constituting 3.88% of the net assets and Alphabet taking a 5.8% share, the ETF conducts a balanced performance. Names like Tencent Music Entertainment Group (TME) and Live Nation Entertainment Inc (LYV) further enrich the melody, ensuring resilience against market distortions.
Charting Musical Progress: MUSQ Rises to the Crescendo
As MUSQ traded at $24.52 post-session, a 1% surge from the previous day signaled an upward tempo. The fund’s trajectory, hinting at a U-shaped recovery, gains momentum following Spotify’s stellar results. MUSQ’s buoyancy above key moving averages paints a promising picture, potentially steered by Spotify’s rhapsodic pre-market performance.
