Should You Buy Pandora ipo Today

Should You Buy Pandora ipo Today Wednesday june 22 2011 : Pandora Media took the plunge and hit the public market. Now you, too, can own a piece of your favorite streaming music service. But Mr. Market has hated this stock so far -- if you were first in line to buy shares on Wednesday, you've lost 44% of your investment already.

Fellow Fool Rick Munarriz called it: Amid Pandora's scorching hot IPO, he told you to stay away from the launch. Though revenue is growing like gangbusters, costs are tagging along as well and the company hasn't figured out how to turn a profit. And the share offering price more than doubled from the initial plan as fellow online darling LinkedIn and others threw chum in the IPO waters. LinkedIn hasn't done much better, by the way. Just short of a month into its public life, the stock has taken a 25% haircut from where it opened on its first day.

I have publicly stated that I want to own Pandora shares, going so far as calling it a serious threat to Apple iTunes and Sirius XM Radio. I still think that's true because Pandora out-Apples Apple itself in the user friendliness department, and that's worth a lot. But I'm not interested at any price, and the introduction prices looked too frothy even for me. Read More...

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