Spotify Stock Debuts at $165.90 USD/Share, Valued at $30 Billion USD

Despite initial reports that the company was filing for a $1 billion USD IPO, Spotify began trading on the New York Stock Exchange for nearly $30 billion USD, with stocks weighing in at $165.90 USD a piece. The company first announced its initial trading date in March. Prior to the opening trades, experts took note of Spotify's impressive revenues, which came in at $4.09 billion USD from 2017, up from 2016's $2.95 billion USD. Despite the optimistically high share prices, the first trades were d...