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He apologized to Spotify, as well as to Young and Joni Mitchell (who also said she intended remove her music from Spotify over Rogan’s podcast).Most stock quote data provided by BATS. Subsequently, Rogan shared an Instagram video in which he said he is “not trying to promote misinformation” and vowed to “try to balance things out” in the future. Ek said Spotify will add warning labels to podcast episodes that include conversations about COVID-19 in addition, the company published its rules about what content is not allowed on Spotify. On Sunday, looking to calm the market’s concerns, Spotify CEO Daniel Ek addressed the situation, without identifying Rogan by name. 26-28, wiping out more than $2 billion market value, whereas Netflix’s stock rose 4.9% over the same time period. After Spotify removed music from Neil Young, who objected to the company’s distribution of “The Joe Rogan Experience,” shares of Spotify fell 6% from Jan. Spotify, meanwhile, has been embroiled in a controversy over Joe Rogan’s podcast, which critics have accused of spreading misinformation about COVID. Ackman, in a letter to Pershing shareholders, wrote that “we believed the opportunity to invest in Netflix at current prices offered a more compelling risk/reward and likely greater, long-term profits for the funds.” That came after hedge fund manager Bill Ackman of Pershing Square Capital bought $1 billion in Netflix stock last week, making the firm a top 20 investor in Netflix. He purchased 51,440 shares, representing about 1% of his total ownership in the streamer. It was Hastings’ first open-market purchase of Netflix shares since the company’s 2002 IPO, in an evident show of confidence in the stock. Netflix’s stock rise Monday also comes after co-CEO Reed Hastings bought $20 million worth of the shares, disclosed after the market closed Friday. Netflix shares plunged following its fourth-quarter 2021 earnings report, in which it forecast a much smaller-than-expected subscriber gain in the first quarter of 2022.Ĭlick here to sign up for Variety’s free Strictly Business newsletter covering earnings, financial news, and more.
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