Aspiro, the company that owns the Tidal brand, a new music streaming service sponsored by Jay Z – who paid $ 54 million for it – and other celebrities in the North American music market, had a 938% appreciation in their shares after launching the app created by the rapper.
The unrest on the Stockholm Stock Exchange, the market where the shares are trading, came to interrupt stock trading last Tuesday, 31, according to Reuters.
However, on Thursday, the movement was normal, with a fall of just over 3% in Aspiro’s shares, which remain the most traded in this niche market.
Tidal has the support of the main heavyweights of pop music like Madonna and Kanye West, in addition to the electronic music duo Daft Punk, who will all be partners in the new portal. The site also has exclusive videos of Rihanna, Alicia Keys and the band The White Stripes.
The platform is already available in the USA, but is not expected to arrive in Brazil.