“Pandora shares, which were happily surging along just days ago on better-than-expected second-quarter earnings, are today plumbing the depths, dragged down by reports that Apple is working on a competing streaming radio service,” John Paczkowski reports for AllThingsD.
“Shares of Pandora plummeted more than 19 percent in early morning trading Friday, falling to $10.15,” Paczkowski reports. “Clearly, investors are terrified at Pandora’s prospects in the face of a formidable competitor like Apple — a company whose mobile devices are responsible for a lot of Pandora usage.”
Read more in the full article here.
MacDailyNews Take: Pandora investors are terrified. As well they should be.
[Thanks to MacDailyNews Readers “Dan K.” and “Brawndo Drinker” for the heads up.]
Related article:
Apple in talks to create Pandora rival – September 7, 2012
i never liked pandora
I have Pandora, its fine, but I certainly would try Apple’s service and would probably switch…
slacker and spotify are A LOT better. especially the premium versions
Near as i could figure, Spotify requires FB. Therefore, it’s a loser to me.
If it doesn’t, Spotify does not make it easy to learn how to use it w/o FB.
Sounds like someone was shorting Pandora this morning. It’s amazing how easy it is to manipulate the market…
So any rumor can just destroy a company.
Great times we live in.
And your automatic stock manipulation programs. All Hail George “Trouble for You” Bush and the fellow Republicans.
Why’s that?
Seriously?! So you think the automatic stock manipulation done by programs are the problem? What was your excuse before these computer programs?
You really think Bush and those politician are that smart/dumb?
Alright Kristian, I’ve got this bank you should put your money in. Nice group of people, they will take care of you and your money. Trust me, they are really nice and your money is safe.
I’m not supporting Bush or the Republicans but you can’t be that naive. Well, I guess you can.
“MacDailyNews Take: Pandora investors are terrified. As well they should.”
Bull crap. This has all the makings of a stock manipulation rumor. Someone wants PANDORA for less than it is currently trading, what better way to do that than a rumor that little PANDORA faces competition from Apple?
I think your are absolutely rrrrrrrrrrr wrong.
ahhh I take that back… rrrrrrrright.
If Apple comes out with something better I’m more than happy to switch. It’s amazing how rumors can cause so much damage.
Damage?
What has changed for pandora today?
The share price.
Lala ReBirth Under AAPL. Thats what the Dr. Ordered.
Loved Pandora until one day they said, “You don’t live in the US, so we are gonna cut you off…” Cutting them off couldn’t happen fast enough for me! Would love to have an alternative that works! GO APPLE!
I love Pandora. I’ve lost count of the new artists I’ve been introduced to over the years. iTunes has gotten a lot of business from me because of Pandora.
That being said, I’ve always wondered how they expect to make money. I mostly listen through the iPhone app these days. Usually, when you listen that way, you don’t look at the phone, which means you don’t see the ads. And they don’t have anywhere near as many audio ads as you’d think they need to break even.
——RM
If Apple says JUMP – the others ask how HIGH?
Bye Bye Pandor-ia.