How to Invest in Spotify

Keep reading for our top recommended brokers to buy Spotify stock.

2. Fund Your Account

Once your account is created, you will need to fund it to start trading. Just link it to your bank account so you can transfer money. Depending on the brokerage, you may need to deposit a minimum amount to start trading.

Be sure to read through the terms and conditions of the platform carefully before making any investments.

Now, you can start investing in Spotify stock.

3. Search for Spotify (SPOT)

Once you’ve funded your account and are ready to buy, search for Spotify stock using their ticker symbol ‘SPOT’.

The company should appear, along with Spotify’s other relevant data, such as current stock price and daily average volume.

Click on the company listing for more detailed information, including news updates and analyst ratings. It’s smart to research the company and consider any risks before investing.

4. Decide How Much to Buy

The next step is deciding how much Spotify stock you want to buy. Most platforms will let you enter how many shares or the exact dollar amount you want to buy.

For example, if the investing app allows for fractional shares, you can say you want to buy $50 worth of SPOT (instead of full shares).

After entering the details, you are now ready to place your order.

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5. Place your order

Once you have entered all the information, review it one last time and click ‘place order’ to complete your purchase of Spotify stock. Your order will be processed in a few minutes, and you will receive a confirmation when it has gone through.

After that, you can view your holdings in your account portfolio and track their performance over time.

Best Brokerages to Invest in Spotify

Here are some of our top recommended brokerages to buy Spotify shares. All these brokerages have no trading commissions.

RobinhoodRobinhood is one of the most popular investment apps for beginners. It has no minimum to get started. A big benefit is that it supports fractional shares, allowing you to invest in stocks with as little as just $1.

M1 FinanceM1 Finance is a unique hybrid DIY brokerage and robo-advisor. You choose your own stocks and build your own portfolio. Then M1 will automatically manage it for you at no cost. It also supports fractional shares. The minimum to start is $100.

Stash InvestStash Invest is designed for new investors who need a little handholding. It guides you to pick stocks aligned with your goals and risk tolerance, but you can also choose your own stocks. You can purchase fractional shares. There is a monthly fee starting at $3/mo.

WebullWebull also has no trading fees or minimum investment. It offers better research tools and analytics for more experienced investors. It’s also a good choice for active traders with free extended trading hours. Webull offers fractional shares for as little as $5.

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FidelityFidelity is a great choice if you’re looking for a full-service brokerage with a wide variety of account types and other investment products. There is no account minimum. Fidelity also offers fractional shares from as little as $1.

Why Invest in Spotify

In April 2023, Spotify announced it reached a major milestone, surpassing 500 million users. This is a huge achievement for the company and will help drive even more future growth. The company also launched its first-ever podcast subscription service, which users have well received.

Additionally, Spotify has invested heavily in voice technologies, launching its voice assistant and integrating Alexa and Google Assistant into its platform.

  • Monthly active users grew 22% to 515 million due to strong performance in all markets and age groups.
  • Premium subscribers increased by 15% year-over-year to 210 million, with strong growth in all regions, mainly Europe and Latin America.
  • Revenue increased 14% year-over-year t to €3.0B, driven by subscriber growth.
  • Gross Margin improved to 25.2% due to better profits in music and podcasts.
  • Operating loss: Expenses were reduced, resulting in an operating loss of €156 million.