Spotify (SPOT) CEO Buying $50M in Stock With Shares in Free-Fall

Spotify (NYSE: SPOT) Founder and CEO Daniel Ek announced on Twitter that he will be investing $50 million in the stock, saying "our best days are ahead..."

Ek said while he is not required to disclose these purchases because of the foreign company status, he thought it was important for shareholders to know.

Shares of Spotify, like other high-flying growth stocks, are down massively this year. Based on Thursday's close, Spotify is down 55% year-to-date.

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