New Wall Street Analyst Remark Sends Pandora Stock Down
Check Out iTunes Radio Video
July 10, 2013 at 12:23 PM (PT)
Once again, it seems that PANDORA's stock is significantly impacted by the whims of WALL STREET analysts. A little over a week after MORGAN STANLEY's endorsement sent its stock price to year-high levels (NET NEWS, 7/1), BUSINESS INSIDER reports that a BTIG analyst cited growing "competitive threats" -- especially iTUNES RADIO -- which sent PANDORA's stock down over a dollar, over a 7% fall in one day.
BTIG's RICH GREENFIELD lauded the latest version of iTUNES RADIO as being "much more user-friendly, with an increasingly accurate/fast SIRI performance" and "no annoying pop-ups display ads like you find in PANDORA." He also mentioned the imminent YOUTUBE music service.
To illustrate his iTUNES RADIO endorsement, he posted a demonstration video that, beginning at the 1:50-minute mark, shows how easy it is to voice-call your preferred station.