Pandora Sings Then Slumps on First Day

No bubble effect as it closes only $1 over opening price

If LinkedIn’s IPO was marked by a loud “pop,” Pandora’s market debut was mostly a muted hum.

After shares of the newly public Internet radio company hit a high of about $26 Wednesday morning, they gradually fell throughout the day, finally trading at $17, just above its offering price of $16.

While it wasn’t a blockbuster debut on par with LinkedIn’s IPO last month, analysts said it was a solid showing, especially considering that the overall market slumped Wednesday.

“I think we expected some volatility in early trading,” said Matt Therian, an analyst with Renaissance Capital, an IPO advisory firm in Greenwich, CT.

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