[UPDATED] A $450 million investment in Pandora by SiriusXM along with a $200 million sale of Ticketfly were not enough for Wall Street to regain confidence in the music streamer. Pandora stock closed down 7.63% Monday at a one year low of $7.87, and analysts were predicting more trouble ahead.
“Pandora Media Inc (NYSE:P) has hit extreme technical weakness,” according to one analyst. “The company has broken down to a one bull (out of 5) momentum rating – that is extreme weakness… the stock price is moving sharply lower… and the bears are leading the charge until the stock can find a bid.”
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