One of the best performing stocks in the last two months is Spotify Technology S.A. (SPOT).

Although the company is European (Swedish), it has been listed on the NYSE since April 2018.

It was incorporated in our IPO Index in the ground that it did between December 2018 and January 2019. Since then it has had a 50% return, only last year was amazing 36% yield.

As shown in the graph, the action had the classic behavior of IPO. It goes up a bit at the beginning, in this case more because of the media power that this company has and then it doesn't stop going down since the end of the lock-up period. As the company's fundamentals, its business model and quality are good, the price begins to recover to become pure growth.

Now it's testing a market ceiling again, almost in the same level of initial price. But the most interesting thing is the evolution of the business which is very good, with all financial key figures improving (profitability, cash flow, revenues, ROA, ROE, ROIC, leverage etc).