Investors were bullish on the streamer's newly announced price increases after previous hikes delivered improved revenue and margins without turning away subscribers.
The Billboard Global Music Index fell 2.3% to 1,799.07 this week as the most valuable companies saw share prices drop.
The 20-company Billboard Global Music Index rose 3.3% to a record 1,847.64 and brought its year-to-date gain to 20.4%.
The Billboard Global Music Index fell 1.9% to 1,788.83 as 16 of 20 stocks lost ground this week.
The Billboard Global Music Index gained 3.8% to 1,824.29 as 17 of its 20 stocks finished the week in positive territory.
The Billboard Global Music Index broke a two-week losing streak, gaining 3.2% to 1,756.98 as 13 of 20 stocks ended in positive territory.
The company's guidance for the second quarter of 2024 provided evidence that layoffs and financial discipline could help the company expand margins and profitability.
The Billboard Global Music Index dropped 4.5% this week, the largest one-week decline since Nov. 2022.
The Billboard Global Music Index lost 3.2% this week as 14 of 20 stocks were in negative territory.
The 20-company Billboard Global Music Index dropped 0.2% to 1,748.38, bringing its year-to-date gain to 14.0%.
