Spotify Stock Gaps Lower After Surprise Quarterly Loss

Group 1 - Spotify Technology SA's stock has decreased by 9.4%, trading at $635.37, following a surprise second-quarter loss and revenue miss, along with a disappointing outlook for Q3 [1] - The stock is experiencing its worst single-day percentage loss since July 2023, breaking below the 60-day moving average, and is currently at its lowest level since mid-May, despite a 43.9% year-to-date gain [2] - Among 32 analysts covering the stock, 22 maintain a "buy" or better rating, indicating potential for downgrades, with a 12-month consensus target price of $753.99, representing a 17.6% premium to current levels [3] Group 2 - Today's options activity shows 13,000 calls and 13,000 puts traded, which is eight times the typical volume, with the most active contract being the September 610 put, followed by the 700 call [4]