Internet radio provider Pandora has taken a harsh beating in its first few days on Wall Street. After a short-lived initial pop that boosted its share value from its debut of $16 to a peak of over $24 on Wednesday, shares sunk sunk throughout the day Thursday and into mid-day Friday, where they hovered around $13. Pandora, which provides online personalized radio streams based on user preferences, announced Wednesday that it would offer 14.7 million shares of common stock at $16 per share.
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Pandora's Pox?
Posted by: Rachelle Dragani June 17, 2011 09:17 AMInternet radio provider Pandora has taken a harsh beating in its first few days on Wall Street. After a short-lived initial pop that boosted its share value from its debut of $16 to a peak of over $24 on Wednesday, shares sunk sunk throughout the day Thursday and into mid-day Friday, where they hovered around $13. Pandora, which provides online personalized radio streams based on user preferences, announced Wednesday that it would offer 14.7 million shares of common stock at $16 per share.