Spotify founders pocket $1 billion selling booming tech stock

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Spotify founders pocket $1 billion selling booming tech stock 🎧 Spotify Technology SA’s founders recently pocketed about $1 billion from selling the audio-streaming giant’s stock as they increasingly build up investments outside the company. Yahoo Finance reports.

🥤 CokeProfit: Coca-Cola sales easily top estimates as global demand rises. CNBC reports.

⚡ AIWar: A consortium led by Elon Musk said on Monday it has offered $97.4 billion to buy the nonprofit that controls OpenAI, another salvo in the billionaire's fight to block the artificial intelligence startup from transitioning to a for-profit firm. Reuters reports.

🍟 McDrop: McDonald’s revenue disappoints, as U.S. sales see worst drop since pandemic. CNBC reports.

🏷️ LuxeLag: Luxury group Kering's fourth quarter sales were hit by a continued slump at its main brand Gucci, it said on Tuesday, but a slight improvement in the group's performance in major markets China and the United States buoyed investors. Reuters reports.

📈 StripeTrade: Stripe is in discussions to arrange sales of stock by employees at an $85 billion valuation. Yahoo Finance reports.

💻 TeamSplit: Microsoft has offered to widen the price differential between its Office product sold with its chat and video app Teams and its software sold without the app in a bid to avert a possible EU antitrust fine, according to three sources. Reuters reports.

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Benzinga reports.

1. $:LIPO: Lipella Pharmaceuticals
Total gain: +70.16%

2. $:OCEA: Ocean Biomedical
Total gain: +57.09%

3. $:VSTE: Vast Renewables
Total gain: +52.89%

4. $CYN: Cyngn
Total gain: +50.51%

5. $SLQT: SelectQuote
Total gain: +35.61%

* Analyzing the markets with Richie Naso, a Wall Street veteran of over 40 years and former member of the NYSE.

Stock Market Recap For the Week of February 3 to February 7, 2025:

During the week of February 3 to February 7, 2025, U.S. stock markets experienced notable volatility influenced by trade policy developments, corporate earnings reports, and economic data releases.

Market Performance:

S&P 500: The index declined by 0.2% over the week.
Dow Jones Industrial Average: The Dow decreased by 0.5%.
Nasdaq Composite: The tech-heavy Nasdaq also fell by 0.5%.

Key Influencing Factors:

Trade Policy Uncertainty: The announcement of new tariffs by President Donald Trump, including a 25% tariff on Canadian and Mexican goods and a 10% tariff on Chinese imports, heightened market volatility. While tariffs on Canada and Mexico were delayed by a month, the 10% tariff on Chinese goods proceeded as planned.

The closing price of the top three market percent gainers trading near or above $3 on February 10.

*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time

1. $LTBR: Lightbridge Corporation
Total gain: +36.14%
The stock appeared to be moving on no notable news.

2. $DOCS: Doximity
Total gain: +35.91%
The stock appeared to be moving on no notable news.

3. $LEU: Centrus Energy
Total gain: +32.15%
The stock appeared to be moving on no notable news.

Time (ET) / Report / Period

6:00 am - NFIB optimism index - January
8:50 am - Cleveland Fed President Beth Hammack speaks
10:00 am - Fed Chairman Jerome Powell testifies to Congress

“It is a real challenge to keep emotions in check, even for the best traders.”

― Jack D. Schwager

Sourced in:
”Market Wizards: Interviews with Top Traders”, by Jack D. Schwager, published in 1989.