Pandora Shares Surged Even After The Company Got Blasted By Pink Floyd

Business Insider

Pandora shares improved 26.8% last week despite blasts from Pink Floyd and the lead singer of Cracker over how much the company pays songwriters.

Here's the chart:

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pandora chart

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On Tuesday, the company announced it now has more than 2.5 million drivers listening to music through Pandora thanks to partnerships with "23 major automotive brands and 8 aftermarket manufacturers."

The company now estimates that fully one-third of all new cars sold in 2013 in the US will have Pandora installed, including over 100 vehicle models made available from Acura, BMW, Buick, Cadillac, Chevrolet, Ford, GMC, Honda, Hyundai, Lexus, Lincoln, Mazda, Mercedes-Benz, MINI, Nissan, Scion, Suzuki and Toyota.

Pandora listeners can also look forward to future integrations in Dodge, Infiniti, Jeep, Kia and Ram vehicles.

The next day, the stock gained as much as 8.3% after the stock was raised to 'Outperform' from 'Market Perform' at Cowen with a 12-month target price of $22.00, according to Seeking Alpha.

An interesting week — this cat's something we can't explain.



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