Well, I can honestly say I didn't stand firm 100%. I sold this morning to take my profits. I did, however, buy back in when the stock started recovering (although a smaller position) and am glad to see the stock taking off!
Looks like about a 6% dilution. I would say it's safe to expect a similar decline. After hours was nearly there. Hopefully we don't see it fall beyond that.
Of course, it'd be nice to hear some solid news from Pandora about any acquisitions they actually have in mind. It's discouraging to investors to hear that they're raising money for general costs.
iRadio will be out and regardless of whether it's a flop or not, the attention will pressure Pandora at first.
Bottom line, this could be an opportunity to buy more at a discount or it could be the time to take your profits for now and get out until things cool down.
No one in their right mind would continue to short when down 400% on a stock. You're such a liar.
Pandora (NYSE: P) announced that the company’s Board of Directors has appointed Brian McAndrews, formerly of Madrona Venture Group, Microsoft and aQuantive, to succeed Joe Kennedy as Chief Executive Officer, President and Chairman, effective immediately.
In its search for a new CEO, the Board sought a candidate who could build on Pandora’s leading position in internet radio and accelerate its fast-growing advertising business.
Following senior positions at General Mills and ABC, McAndrews, took over Avenue A, a small digital agency in Seattle in 1999, and as President and CEO built it into aQuantive, the fastest-growing digital marketing company in the world at the time. aQuantive was subsequently acquired by Microsoft for $6 billion in 2007. After serving as a senior vice president at Microsoft and running Microsoft’s Advertiser & Publisher Solutions group, McAndrews joined Madrona as an investing partner in 2009, focusing on early-stage technology companies. In addition to his work at Madrona, McAndrews currently serves on the boards of The New York Times Co., Grubhub Seamless and AppNexus.
McAndrews was recognized as Advertising Age’s first-ever “Digital Executive of the Year” and he was designated one of the 30 most influential executives in the advertising, marketing and media world in Adweek’s 30th Anniversary issue.
Well, at this rate that is definitely possible.
On the cautious side, I would expect a dip when iOS 7 is released a week from today. Before everyone goes all anti-apple. That dip will occur, if anything else, due to articles highlighting the new iRadio.
Like I said, historically, Apple's stock does drop during announcements. Also, hyped up rumor features that don't make it into the phone cause negative reviews from the anti-Apple community.
History shows that it's best to buy Apple after the initial decline as the stock will quickly rebound.
It's exactly what I'm doing. I sold Apple shares yesterday morning and purchased more Pandora. I'll be buying back my Apple shares slowly over the next week to two weeks most likely.
Let's hope that's the case. Would be neat to see it get some traction over the next week.
Definitely don't agree. Apple's stock drops after press releases historically. If Apple's play to reach the greater global market works out, this could be one of the biggest moves yet.
Also, one doesn't have to be against Apple to be for Pandora. This message board is too emotional.
Yea, this is definitely a factor which is why I'm not so sure Pandora has a long play. I think in the short it will be strong but that it's best bet is getting purchased.
In my mind, big companies are all going to have music/radio services soon enough. Either they are going to build their own or buy a good one. Apple is obviously not going to buy Pandora. Microsoft and others have their own but I could still see them benefiting from a quality service.
I am often wrong, but I don't see Pandora remaining as a standalone service 5 years from now. I think it's much more likely to exist under the umbrella of a big company. I just don't have a good idea if that will happen now when Pandora seems to be coming into full bloom or months or even more than a year from now when/if Pandora is struggling to keep a user-base.
Sorry I should have made that more clear. Let me rephrase one portion:
"It appears the market reacted very well to the release in general given the large dip during the announcement and the quick recovery when Apple was quickly done speaking about it."
It appears the market reacted to the release more favorably towards Pandora given the large dip during the announcement and the recovery when Apple was quickly done speaking about it.
Given that there wasn't a huge amount of time spent highlighting iTunes Radio, I'm guessing Pandora will fare well over the next week. It appears the market reacted very well to the release in general given the large dip during the announcement and the quick recovery when Apple was quickly done speaking about it.
So my guess is that in the next week, articles will focus on the limitations of iTunes Radio and the strength of Pandora.
After that when iOS 7 is released, it's more up in the air. If the feature is well received and strong, then it could slow down Pandora some. My guess (and it is only a guess) is that Pandora will take a short-term hit and then there will be a fairly quick recovery.
So that's my prediction for the next couple of weeks!