Musings, observations, and written works from the publisher of Eckhartz Press, the media critic for the Illinois Entertainer, host of Minutia Men, and the writer of "The Living Wills", "$everance," "Just One Bad Century," "Father Knows Nothing," "The Radio Producer's Handbook," and "Records Truly Is My Middle Name"
Monday, October 26, 2015
Pandora's Very Bad Day
If you were following the stock market on Friday you may have noticed one media stock in complete and total freefall...Pandora. They missed their projected earnings, were downgraded by experts, and as Tom Petty once said they were "Free Fallin". At the end of Friday, their stock had lost a third of its value.
But if you ask me (and nobody is), the reaction by Wall Street is nothing short of insane. Their projected earnings were $312 million. They came in at $311 million.