Pandora Revisits Key Support Level

Pandora

shares are trading lower by $0.65 at $13.62 in Thursday's session. After Wedensday's close the company announced a $300M convertible notes offering that will dilute the stake of current shareholders. After a lower, it could only manage a $0.02 pop to $13.92, before continuing to move lower. The ensuing decline has found support in familiar area. In four of the last sessions. the issue had bottomed between $13.49 and $13.68 and matched the lower end of the range in today's session and rebounded.