Spotify: "Shake It Off"

Following Q1 results, is the SPOT thesis intact?

On Wednesday, Spotify reported financial results for Q1 FY21.

As a reminder, I initiated a ~5% position in Spotify in April. Since that time, there has been a whirlwind of news to digest, all of which was capped off with last week’s Q1 results. This post, as with every company-specific update, intends to answer one question: have recent developments giv…