Pandora Regains Traction On Wall Street
June 27, 2011 at 2:00 PM (PT)
As premature as it was to hail PANDORA as the next big thing when its stock share rose from $16 to $26 in its first day of its IPO, it may be equally premature to call it a "tech bubble" bust after its stock dropped to around $13 the very next day. Financial papers have noted that PANDORA stock has regained its footing and TODAY rose over its initial IPO offering price at a gain of 8.33%.
"Investors are looking to discern whether the company will capitalize on recent momentum or will ease back in the direction of its trading lows" reports WALL ST. CHEET SHEET, which listed PANDOA as a "Hot Stock To Watch." "SEEKING ALPHA [called] the stock a 'wild card' with the upside a growth buy, noting, 'buying PANDORA looks no different from buying some early stage biotech not even close to submitting a drug for FDA drug approval, but promises to be developing the next miracle drug.'"