Cloud Atlas

Fly Charts: Dropbox's Smart Move and a High Time for Pot Stocks

From a loosening grip on Madison Square Garden to a disappointing Spotify windfall, here are four charts that tell you what you need to know in business today.
Photographer: Mark Ovaska/Bloomberg via Getty Images

Good morning! This is Fly Charts, the daily charts-only newsletter from Gadfly; sign up here. From a loosening grip on Madison Square Garden to a disappointing Spotify windfall, here are four charts that tell you what you need to know in business today.

Sky High

Pot stocks are trading at absurdly expensive valuations that they will have a hard time living up to.

Source: Bloomberg

Smash Hit

Spotify's public listing may not be the bonanza for Tencent -- a major shareholder -- that some might be imagining.

Source: Spotify SEC filing

Up the Upswing

Edging away from Amazon Web Services is one of the smartest things that Dropbox did on its road to an IPO.

Source: Dropbox disclosures

Price Check

Silver Lake's recently revealed stake in Madison Square Garden may point to a loosening of the Dolan family's grip on the landmark and its controlling company.

Source: Bloomberg

And don't miss Alex Webb on WPP's bad communication: "That the ad industry is facing difficulties was no secret. But WPP has, for much of the past 18 months, been adamant that the troubles were cyclical and therefore temporary, with macroeconomic trends squeezing spending. The cut to its annual growth guidance was tacit admission that those headwinds are more structural and therefore permanent."

This column does not necessarily reflect the opinion of Bloomberg LP and its owners.

    To contact the author of this story:
    Max Nisen in New York at mnisen@bloomberg.net

    To contact the editor responsible for this story:
    Mark Gongloff at mgongloff1@bloomberg.net

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