Re: [Fortune] Spotify CEO Daniel Ek surprised by how much laying off 1,500 employees negatively affected the streaming giant’s operations

On 4/25/2024 7:42 AM, Lawrence D'Oliveiro wrote:

On Thu, 25 Apr 2024 00:09:54 +0200, Kyonshi wrote:
 

However, the company failed to hit its guidance on profitability and
monthly active user growth.
>
It didn’t seem to put off investors, who sent shares in the group
soaring more than 8% in New York after markets opened Tuesday morning.

 That happens all too often. Wall Street really seems to love the sound of
the word “layoff”. Lots of companies enjoy a short-term boost to their
share price, even at the cost of long-term damage to their business.

which is weird because the share price should be tied to long-term profitability and not stock gains. The whole stock market sometimes seems to run on nothing but belief in strange mantras and not in actual companies.
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