NEW YORK - Pandora, the internet radio company which has been around for quite some time, just IPO's yesterday. The stock shot up in yesterday's trading, however it recently fell below the offering price. It was if a force powered by the gods took over the stock market today as the market reversed all of its gains seen yesterday as evil was thrust into the once innocent world. The internet radio company gained 9% yesterday but it caused all other stocks to drop by 2%. Pandora's stock was as much as 63% higher earlier yesterday.
The company issued 14.7 million shares, 6 million by the company and 8.7 million by former shareholders.
Some say the Pandora IPO may impact the price of Sirius Satellite radio even though their business models have very little to do with each other. Siri shares are down over 13% this month.
To read the Pandora report click here
To read the Sirius Report click here.
No comments:
Post a Comment