Why Spotify Stock Has Tumbled This Week

As of Friday afternoon, shares of Spotify (NYSE: SPOT) had tumbled about 12% from where they closed last week. While the S&P 500 and the Dow Jones Industrial Average were also down for the week, the streaming service was also embroiled in a controversy over its biggest podcast star, Joe Rogan, who is increasingly accused of spreading misinformation about COVID-19 and its treatment. Spotify removed Young's songs from the air.