Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Pandora Media Inc (NYSE: P) shares took a major beating on Friday after the company reported disappointing fourth quarter earnings and gave a weak guidance.
Richard Greenfield from BTIG was on CNBC to dissect Pandora’s quarterly numbers. He also discussed whether it has any chances of success going forward.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
“This is a company that basically doesn’t make money today or any substantial money today where competition is rising,” Greenfield said.
“Lots of [competitors]...don’t need to make money on music...whether it's Google, what they are trying to do with YouTube; whether it's Amazon with the Amazon Prime music service; whether it's Apple now with Beats.”
Competing With Giants
Greenfield explained that these peers are using music to simply boost user interaction. Pandora, on the other hand, relies on it.
FREE REPORT: How To Learn Options Trading Fast
In this special report, you will learn the four best strategies for trading options, how to stay safe as a complete beginner, a 411% trade case study, PLUS how to access two new potential winning options trades starting today.Claim Your Free Report Here.
He also discussed advertising, and how Pandora's narrow focus could be a weakness compared to competitors with more diverse offerings.
“Advertisers have this whole new playground of video options, whether it’s Facebook, Instagram, Twitter," the analyst said, adding: "there are so many options beyond the audio-only world of Pandora.
"So, I think they are in for more pain as you go forward,” he concluded.
The Flip Side
Worth noting, positive numbers from OTR Global last month pushed shares up more than 10 percent on January 23. The report, which cited advertising effectiveness, projected that 17 different ad agencies were boosting their Pandora budgets.
The stock fell 17.2 percent this past Friday. Shares are down 14 percent year-to-date.
Image credit: Author
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.