3 Buzzing Social Media Stocks: Pandora Shares Get Hammered, Facebook Refines Its Ads, and LinkedIn Could Make a Move for Xing
Pandora Media (NYSE:P): Even a favorable quarterly report couldn’t help salvage Pandora’s shares, now down over 11 percent. The company reported mixed guidance, and its decision to remove its mobile listening cap could be fueling the selloff; a round of downgrades hasn’t helped. An improved monetization strategy resulted in content acquisition cost growth, up 35 percent to $81.8 million. Listener hours totaled 3.88 billion for the period, which is up year over year though down quarter over quarter.