Twitter Erupts as NYSE Salutes Sweden’s Spotify With Swiss Flag
AP Photo/ Richard DrewViral19:45 04.04.2018(updated 19:47 04.04.2018) Get short URL
The multibillion-dollar IPO of Spotify at the New York Stock Exchange has been slightly shadowed, as the financial organization accidentally gave credit for the success of the Swedish start-up to the wrong country.
The initial public offering (IPO) of Spotify at the New York Stock Exchange started with an unfortunate mix-up as the NYSE tried to welcome the Stockholm-based giant. But geography turned out to be a more difficult subject than international finances for them. Instead of the Swedish flag, a Swiss banner with a white cross was mounted on the NYSE’s building along with two American flags.
This didn’t go unnoticed by Twitter users, who spotted the mistake.
The NYSE, which swapped the flag on the day of the IPO, tried to play out the mishap, posting a tweet comparing its neutral role with the Swiss stance in international relations.
According to the Verge website, the NYSE also joked that the famous musical service had something to do with the confusion, tweeting, “Our flag guy was rocking his Spotify playlist a little hard this morning and grabbed the wrong flag.” This one was later deleted.
The Swedish American Chamber of Commerce of New England didn’t take the mishap close to the heart and posted a reassuring tweet, stating that Swedish-Swiss mix-ups are a common mistake.
The matter was as sweet as Swiss chocolate for Twitter users, who couldn’t miss out on this mistake.
Despite entering the stock exchange under the wrong banner, Spotify finished its first day on the NYSE with a valuation of $26.5 billion, with opening price of $165.90.
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