• Chart of the Day: Pandora Media, Inc. (P)

    by  • June 25, 2013 12:44 pm • Charts to Watch, Quick Hits, Tony Venosa's Chart of the Day • 0 Comments

    Today’s chart is of Pandora Media, Inc. (P) which provides Internet radio services in the United States. The company allows listeners to create up to 100 personalized stations to access unlimited hours of free music and comedy, as well as offers Pandora One, a paid subscription service to listeners. It is also involved in the sale of displays, audio advertising, and video advertising products to advertisers for delivery on computer, mobile, and other connected device platforms.

    Ticker:  Pandora Media, Inc. (P)

    What I Am Looking At:

    • Shares showing outstanding performance this year, up nearly 80 percent year-to-date
    • Early June pullback to the $14 level which is double the 52-week low
    • $14 level also coincides with rising 80-day moving average
    • Shares continue to shake off news about competitive pressures from new internet radio sources
    • Despite shares’ outperformance short interest remains very high, 24 percent of the float is sold short
    • The 10-day buy-to-open put/call ratio ranks in the 87th percentile of all readings taken during the past year, indicating a near extreme in pessimism among option participants
    • 7 out of 17 analysts covering P maintain “hold” ratings, could see future upgrades
    • Quarterly revenue growth (year-over-year)  +55 percent
    • Reports earnings on August 29th, unconfirmed

    Strategy:  Buy with a stop under $14

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    Tony Venosa, CMT is a Senior Options Strategist and works on the trading desk at Schaeffer’s Investment Research. He joined Schaeffer’s in 2010. He has worked in the finance industry for over 15 years. He began his career as a trading assistant in Chicago on the floor of the Chicago Mercantile Exchange. He later moved upstairs and worked as a commodities broker on both the retail and hedging side. He left the brokerage industry to begin his trading career as a proprietary equities trader at a Chicago firm. In 2000, Tony moved backed to his hometown and continued trading his personal account. He later went on to earn his Chartered Market Technician designation. He earned a B.S. in Finance from Miami University. Tony’s main focus is short-term directional option trading.


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