Spotify Announces First Public Trading Date

Last month, Spotify filed for an IPO on the NSYE under the ticker "SPOT" for up to $1 billion USD. The music streaming giant is now set to trade on April 3, however, under non-traditional circumstances. Unlike most IPOs, Spotify has chosen to forgo underwriters, which normally help stabilize a stock offering, as well as a lock-up period, where shareholders are prevented from selling shares. Spotify's direct listing will be for current shareholders to sell. The company itself won't sell any stock...