Pandora Media Inc. (P) traded on unusually high volume on Sep. 28, as the stock lost 4.71% to close at $7.69. On the day, Pandora Media Inc. saw 11.95 million shares trade hands on 33,952 trades. Considering that the stock averages only a daily volume of 4.93 million shares a day over the last month, this represents a pretty significant bump in volume over the norm.
Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.
The stock has traded between $14.95 and $6.76 over the last 52-weeks, its 50-day SMA is now $8.52, and its 200-day SMA $10.50. Pandora Media Inc. has a P/B ratio of 45.24.
Pandora Media Inc is a broadcasting company which offers music streaming and automated music recommendation services. The service is available in the United States, Australia, and New Zealand.
Headquartered in Oakland, CA, Pandora Media Inc. has 2,488 employees and is currently under the leadership of CEO Naveen Chopra.
For a complete fundamental analysis analysis of Pandora Media Inc., check out Equities.com’s Stock Valuation Analysis report for P.
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All data provided by QuoteMedia and was accurate as of 4:30PM ET.
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