If you have Spotify Technology stock on your radar, you are not alone. Questions abound about whether the recent journey in share price is a fresh growth runway or just turbulence in an already competitive market. Over the past year, anyone holding shares has seen a major payday, with Spotify’s stock rocketing up by 83.4%. The surge is even more dramatic when you look back three years, a jaw-dropping total return of 737.9% that far outpaces most tech peers.

Still, it has not been a steady march upward. Sure, this year the stock is riding a robust 49.7% gain year-to-date, but over the last month Spotify has slipped by 2.7%. Even just this past week, shares ticked up a marginal 0.7%. Some of this short-term volatility may be…