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Stock Alert: Spotify Technology Shares Hit New 52-Week High

Shares of Spotify Technology S.A. (SPOT) hit a new 52-week high of $299.56 Wednesday morning, and are currently trading at $292.56, up $16.18 or 5.85%, with trading volume rising over 1.15 million versus an average volume of 2.89 million shares.

Spotify and Universal Music Group announced a new, multi-year global license agreement that further aligns the companies' efforts to foster groundbreaking new features providing value for artists and great experiences for music fans.

The agreement reflects a shared commitment to music's continued growth, deeper music discovery experiences and collaboration on new marketing campaigns across Spotify's platform.

As one of Spotify's earliest supporters, UMG would also deepen its role as an early adopter of future products and provide valuable feedback to Spotify's development team.

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