*By Conor White*
Analysts were wrong about Spotify.
That's according to BTIG media and tech analyst Rich Greenfield, who initiated coverage of the stock this week with a "Buy" rating. In an interview with Cheddar Tuesday, he said he should have been more optimistic at the start.
"We were pretty concerned with how the stock would trade, and looking for it to settle, and honestly, we just tried to be cute," he explained. "The reality is, this is a great platform."
Spotify went public on the New York Stock Exchange in April, [directly listing](https://cms.cheddar.com/videos/VmlkZW8tMTU2Mzg=) shares rather than launching a more traditional IPO. Shares opened at $165.90 and, after some initial volatility, have risen to nearly $190 a share, almost a 13 percent gain.
Greenfield said he doesn't just expect Spotify to keep trending up; he also thinks the entire music streaming industry will follow.
"We think this is a company that has lots of room to grow, the category has a lot of room to grow," Greenfield noted. "This is not about Spotify versus Apple, or Spotify versus Amazon Music."
"There is a major shift toward people listening to paid, premium music services."
Greenfield insisted these companies are not at warーbut he still expects Spotify to remain king.
"Spotify is the only one of these companies that is truly global, works across all devices, works in and out of the home," he explained.
"Pandora's only in the U.S., Apple is really focused on iOS devices. If you want anything that really works anywhere, in and out of the home, you're coming out with Spotify."
Spotify reports earnings before the market opens on Thursday.
For full interview, [click here](https://cheddar.com/videos/is-spotify-a-must-buy-stock).
It’s a chicken-and-egg problem: Restaurants are struggling with record-high U.S. egg prices, but their omelets, scrambles and huevos rancheros may be part of the problem. Breakfast is booming at U.S. eateries. First Watch, a restaurant chain that serves breakfast, brunch and lunch, nearly quadrupled its locations over the past decade to 570. Fast-food chains like Starbucks and Wendy's added more egg-filled breakfast items. In normal times, egg producers could meet the demand. But a bird flu outbreak that has forced them to slaughter their flocks is making supplies scarcer and pushing up prices. Some restaurants like Waffle House have added a surcharge to offset their costs.
William Falcon, CEO and Founder of Lightning AI, discusses the ongoing feud between Elon Musk and Sam Altman, and how everyday people can use AI in their lives.
U.S. tariffs on steel and aluminum “will not go unanswered,” European Union chief Ursula von der Leyen vowed on Tuesday, adding that they will trigger toug
The Trump administration has ordered the Consumer Financial Protection Bureau to stop nearly all its work, effectively shutting down the agency that was created to protect consumers after the 2008 financial crisis and subprime mortgage-lending scandal. Russell Vought is the newly installed director of the Office of Management and Budget. Vought directed the CFPB in a Saturday night email to stop work on proposed rules, to suspend the effective dates on any rules that were finalized but not yet effective, and to stop investigative work and not begin any new investigations. The agency has been a target of conservatives since President Barack Obama created it following the 2007-2008 financial crisis.
Jeff Benedict, author of 'The Dynasty,' weighs in on the Kansas City Chiefs being the next big dynasty, who he thinks will win Super Bowl LIX and more. Watch!
