Pandora Shares Trip Circuit Breakers After Report of Apple Radio Service

Look out below.

Pandora Media Inc. shares quickly tumbled after a Bloomberg report surfaces that Apple Inc. is planning its own radio service for an early 2013 launch. The sharp drop for Pandora shares tripped two circuit breakers within a matter of 10 minutes. Circuit breakers are intended to limit violent swings in individual stocks.

Shares recently fell 19 percent to $7.50. The stock is down 25 percent this year, with Thursday’s tumble pushing shares to a fresh record low. The company went public in June 2011 with a $16 IPO price.

Read the rest of this post on the original site »


Must-Reads from other Websites

Panos Mourdoukoutas

Why Apple Should Buy China’s Xiaomi

Paul Graham

What I Didn’t Say

Benjamin Bratton

We Need to Talk About TED

Mat Honan

I, Glasshole: My Year With Google Glass

Chris Ware

All Together Now

Corey S. Powell and Laurie Gwen Shapiro

The Sculpture on the Moon

About Voices

Along with original content and posts from across the Dow Jones network, this section of AllThingsD includes Must-Reads From Other Websites — pieces we’ve read, discussions we’ve followed, stuff we like. Six posts from external sites are included here each weekday, but we only run the headlines. We link to the original sites for the rest. These posts are explicitly labeled, so it’s clear that the content comes from other websites, and for clarity’s sake, all outside posts run against a pink background.

We also solicit original full-length posts and accept some unsolicited submissions.

Read more »