Pandora (P) Shares Drop Following Launch of New Samsung Music Service
Tweet
Share
E-mail
Get Alerts P Hot Sheet
Join SI Premium – FREE
Pandora Media (NYSE: P) shares are taking a hit Tuesday, the first day of trading following the long holiday weekend, amid reports Samsung has launched its own music service in Europe named Music Hub.
The news comes along with the launch of Samsung's much-anticipated smartphone, the Galaxy S III.
Music Hub is aimed directly at Apple's (Nasdaq: AAPL) iTunes, but may also throw a wrench in the works at Pandora and Spotify in the streaming media-o-sphere.
Shares of Pandora are off 7 percent. Volatility was higher earlier, but has since flattened out.
The news comes along with the launch of Samsung's much-anticipated smartphone, the Galaxy S III.
Music Hub is aimed directly at Apple's (Nasdaq: AAPL) iTunes, but may also throw a wrench in the works at Pandora and Spotify in the streaming media-o-sphere.
Shares of Pandora are off 7 percent. Volatility was higher earlier, but has since flattened out.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Active options: AAPL NVDA TSLA SPCX AAPL MSTR INTC MRNA WMT AMZN
- Zentek wins Canada government HVAC filter contract worth CA$348K
- Active options: AAPL NVDA OWL BULL WMT MRNA MSTR WULF
Create E-mail Alert Related Categories
Corporate News, Insiders' BlogSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
