Back on Feb. 13, Pandora Media shares were trading at $13.58. Since then, the company has struggled to grow at the same levels it did just five years ago.
On Friday (12/1), on heavier than average volume, “P” plunged by more than 4% to come very close to its all-time low of $4.57.
That low was achieved on Nov. 6.
With 11.2 million shares traded, compared to average volume of 8.9 million shares, Pandora was trading at $4.78, down 22 cents, as of 3:22pm Eastern.
The streaming audio company’s one-year target estimate is far higher, at $8.61.
The dip for Pandora on Wall Street comes following an IHS Markit Score report on the company reflecting an upgrade on Dec. 1 to “Neutral,” from “Negative.”
Further, bearish sentiment on Pandora “is moderate and declining.”