Short logic: Pandora should be trading at $2/share, tops →
With Facebook recently valued at $100b; GroupOn at $25b; LinkdIn at $9b & Twitter at $7.7b, You’d wonder is there going to be another tech bubble burst?! Check out this post by David Heinemeier Hansson author of Rework commenting on Pandora’s IPO this week.
Pandora’s IPO yesterday peaked at $26/share, giving them a brief valuation of $4 billion. The stock quickly deflated to a closing price of $17.50, moving that valuation to $2.8 billion. Even that is a fantastical and bubblicious number that will not stand up to scrutiny. Here is a…
(Source: shortlogic)