Spotify Stock: Price, Ticker, When and How to Buy and Invest

Swedish music streaming service Spotify was set to hit the United States markets Tuesday with the ticker name SPOT. Several aspects about the stock are a bit unusual when compared to similar tech companies that have gone public.

Some were hesitant to even call Spotify's stock an IPO, CNN reported. Prior to the opening bell Tuesday morning, Spotify hadn't raised any new capital like most IPOs would. Instead, the company made the decision to simply list existing shares, which made it difficult for anyone to predict the price the shares would initially go for. This direct listing approach bypasses the bankers who generally would help set the initial trade prices.

Private shares have been selling for anywhere from $48.93 to $132.50 as recently as January, February and March, Nasdaq reported. Estimates for the price of the shares once they hit the public market were between $160 and $220, CNN reported.

Spotify is on track to make about $6 billion in revenue in 2018, putting it on track to steadily increase over previous years. While the market opened Tuesday morning, SPOT isn't expected to start trading until the mid-afternoon, according to Nasdaq.

Those who want to buy shares of SPOT have to wait until the shares go on the market, the exact time was scheduled for was unknown to the public on Tuesday. Buys can be made through a broker or an online trading site like E-Trade or Merrill Edge.

A broker takes care of the buying and the trades for the investor for a fee. While sometimes faster and cheaper, investors who opt to buy through a site get less guidance and are essentially on their own for buys and sells. Not having a broker can make certain aspects of trading, like limit orders, more difficult because the investor has to watch for when the price drops, rather than having a broker do it for them.

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Spotify was set to head to the United States stock exchange Tuesday. Emmanuel Dunand/Getty Images