SPOT 相对行业估值偏高；已清空全部持仓，并将其排在末位。
逐段跳播
好。现在，虽然这两只股票一路飙升，价格明显上涨，但下一只股票目前正经历非常显著的下跌，而且它根本不是制药股。事实上，它是一家领先的科技公司，音频流媒体巨头Spotify（SPOT），沙特阿拉伯在上个季度将其持股翻倍，在这只股票上花费了约3000万美元。
Good. Now, while these two stocks were soaring and their prices had clearly risen, the next stock is currently experiencing a very significant decline , and it is not a pharmaceutical stock at all.
In fact, it is a leading technology company, the audio streaming giant Spotify ( SPOT), in which Saudi Arabia doubled its stake in the last quarter, spending about $30 million on this stock.
现在，如果你关注我的频道有一段时间了，你可能记得我自己也持有这只股票的一小部分，我最初是在他们签下Joe Rogan的临时独家协议前后买入的，我当时认为这可能是Spotify终于更强势地进军视频流媒体、并最终成为YouTube真正竞争对手的开始，而YouTube所在的庞大视频流媒体市场奇怪地似乎没有面临真正的挑战。
Now, if you’ve been following my channel for a while, you might remember that I also owned a very small part of this stock myself, which I originally bought around the time they signed Joe Rogan to a temporary exclusive deal , which I thought at the time might be the beginning of Spotify finally expanding more strongly into video streaming, and finally becoming a real competitor to YouTube, a huge video streaming market that strangely seems to be under no real challenge.
因此，我认为Spotify可能有一个很好的机会来增长并开始抢占一些市场份额。但随着时间的推移，我发现他们的完整视频发布用户体验很粗糙，我并不真正喜欢。我只是觉得他们完全错过了这个机会。
Thus, I thought there might be a great opportunity for Spotify to grow and start to capture some market share . But over time, I found that the full video release for them was a rough user experience and I didn't really enjoy it.
I just feel like they completely missed this opportunity.
这个平台本身，在视频方面，似乎并不完整。没有评论区，甚至到今天，在这个功能终于推出之后，我个人已经不再使用Spotify了，但我认为它仍然限制每个视频只能有一条评论。如果我说错了你可以纠正我，但根据我在网上读到的，关于这一点有一个奇怪的规则，规定用户每个视频只能留一条评论。
The platform itself, when it came to video, seemed incomplete. There was no comments section, and even today, after this feature was finally introduced, I personally no longer use Spotify, but I think it is still limited to only one comment per video.
You can correct me if I'm wrong about that, but from what I've read online, there's a strange rule about this which states that users can only leave one comment per video.
我认为这让观众很难与内容创作者沟通，甚至也很难与其他观众沟通。如果你从事社交媒体这一行，这绝不是你想要的结果。所以，我只是觉得他们真的错失了这个机会，没有充分利用它。他们没有做那些本应做的事情，去真正在这个领域竞争，而他们本有一个真正的机会去抢占一部分市场份额。
I think this makes it very difficult for viewers to communicate with content creators or even with other viewers as well. This is not what you want to do if you work in the field of social media.
So, I just feel like they really missed the opportunity here and didn't take full advantage of it . They did not do the things they should have done in order to really compete in this field, where they had a real opportunity to capture some market share.
现在，他们无疑仍然留在音频广播业务中。很明显，他们现在也在提供视频。他们仍在这个领域耕耘，但他们的主要业务和主要收入来源仍将是音频广播。
Now, they have definitely stayed in the audio broadcasting business. It is clear that they are also offering video now. They are still working in this field, but their primary activity and main source of income will remain audio broadcasting.
但是，即便仅在音频领域，如果我今天试着以全新的视角来看Spotify，我也无法忽视他们在纯音频领域持续面临的激烈竞争。比如一些全球最富有的大型科技公司，包括拥有Apple Music的Apple、拥有Amazon Music的Amazon，以及拥有YouTube Music的Google。
But, even in the realm of audio alone, you know, if I try to look at Spotify from a fresh perspective today, I can't ignore the fierce competition they continue to face in the audio-only realm.
Like some of the richest big technology companies on the planet, including Apple with Apple Music, Amazon with Amazon Music, and Google with YouTube Music as well.
所以，我不确定为什么会有人想要持有这样一只音乐流媒体股票，而你完全可以去投资其他科技巨头，拥有规模大得多、更多元化的业务，这些业务每年创造数百亿美元的利润，永远不必仅仅依赖音乐订阅来生存。
So, I'm not sure why anyone would want to own a music streaming stock like this, when you could simply invest in other tech giants and have much larger, more diversified businesses that generate tens of billions in profits each year and never have to rely solely on music subscriptions to survive.
现在，平心而论，Spotify至少在这个有限的空间里表现不错，分析师预测其销售额和利润将大幅且出人意料地增长，这是我未曾预料到的。但是，在上个季度，他们还正式突破了3亿付费订阅用户的里程碑，这当然不是一个小数目。
就连股价本身也在近期一次显著下跌中下跌了35%。
Now, to be fair to Spotify, they are at least performing well in this limited space , and analysts are predicting sales and profits will rise by large and surprising amounts that I did not expect to see.
But, in the last quarter, they also officially surpassed the 300 million paid subscriber mark, which is certainly no small number . Even the stock itself has fallen by 35% in a significant recent decline.
然而，就销售额和利润而言，他们的市值相对于该板块似乎极高。因此，我短期内并不真的有兴趣再次买入这只股票。我已卖出了全部持股。而且我对退出完全满意。我通过其他股票获得了他们所提供一切的敞口，而我认为那些股票要好得多。因此，我实际上会把这只股票排在排行榜的最后。
However, their market value seems extremely high compared to the sector in terms of sales and profits. Therefore, I am not really interested in buying this stock again anytime soon .
I sold my entire stake in it . And I am completely satisfied with getting out of it. I gain exposure to everything they offer through other stocks, which I consider to be much better.
Therefore, I would actually put this stock last in our rankings.
这个频道对 $SPOT 的历次判断
Ale's World of Stocks 在这只股票上只有这一条判断。