Dallas, Texas 07/18/2013 (Financialstrend) – Pandora Media Inc (NYSE:P) is the leading Internet radio service, Pandora’s history as a public company has been a turbulent ride for investors. Shares came at $16 per share to public on June 2011 and losing more than 50 percent of their value to $7.08 in November 2012. Concerns over the launch of iTunes Radio have pushed the stock to its all-time lows. Depending on the latest news the stock has been flowed and ebbed like the ocean tide.
Pandora Media Inc reached an all-time high of $20.54 in early July. Investors are choosing to ignore the obvious issue that competitors Google Inc (NASDAQ:GOOG) and Apple Inc. (NASDAQ:AAPL) are launching their own music services, giving full confidence to Pandora’s monthly listener figures, which indicate a burgeoning subscriber base and the Pandora Media Inc’s recent actions had proved to be a highly negative game changer for the company’s investors. Hidden within the bug fixes and performance enhancements are a dramatic increase in advertising and a decrease in listening options. The company has seen many subscribers who are unwilling to pay $4 per month for a premium radio service.
The shares are currently trading at $18.57, up by 0.38%. The stock has presented intraday fluctuations on the range of $18.55 – 18.64 per share, after opening at $18.58 for the day. The company had recorded 52 week low at $7.08 and 52 week high at $20.54 per share.
There are 174.80 million shares outstanding with a market cap of $3.25 billion and an institutional ownership of 101% of the total capital.