Because of the imaginary business called "stock value" and the fact that they are the only viable alternative to apple music in the minds of pretty much everybody.From the reports I see, Spotify is becoming more and more less relevant as they continue to operate at a loss. How can they remain in business for many more years to come like that?
They can borrow all the money they need from shareholders and banks while paying for it with their stock, that is based on hype and hopes and dreams. I know, brilliant.