October 3, 2022

PARIS – Shares of French music streaming service Deezer plunged on its first trading day, a new sign of the challenging environment facing start-ups and money-making companies.

The Paris-based competitor to music streaming services including Spotify Technology SA saw its shares fall more than a quarter on Tuesday, the company’s first day on the Paris Stock Exchange. The pullback, down more than 30% at one point, came after the company struck a SPAC deal in April worth nearly $1.1 billion.

Source link

Leave a Reply

Your email address will not be published.