The market hated Spotify (NYSE: SPOT) in 2022. The stock is up 55% year to date (YTD) along with an overall resurgence in growth stocks this year and after reporting strong user growth for the fourth quarter of 2022.
To make market-beating returns, investors need to find companies that are leaders in their industries, see a large potential market, and have solid financials. This is a cash-flow business, and the Las Vegas Strip is generating more revenue than ever. You can see below that this has helped drive $4.1 billion in EBITDA over the past year for MGM Resorts.
Shares of Spotify ticked higher after an analyst upgraded the stock to Overweight, noting the company's commitment to improving margins.