Spotify’s market capitalization fell about $2.1 billion over a three-day span this week, coming after folk rocker Neil Young yanked his songs from the audio-streaming giant to protest Joe Rogan’s misinformation-spreading podcast.
Shares of Spotify fell 6% from Jan. 26-28. Over the same time period, the tech-heavy Nasdaq composite index rose 1.7% and the Dow Jones Industrial Average was up 1.1%. For the sake of comparison, Netflix’s stock recovered a bit, up 4.9% over the last three days, after getting hammered following its Jan. 20 earnings report.
That came after Young announced Wednesday that he was demanding the company drop his music, writing that “Spotify has recently become a very damaging force via its public misinformation and lies about COVID.” He didn’t cite Rogan by name, but referred to an open letter from doctors and health professionals issued earlier this…
