View From the Floor: Pandora’s IPO at the NYSE [PHOTOS]

Internet radio company Pandora went public this morning on the New York Stock Exchange. After the price was set at $16 a share last night, following a range of $10 to $12, the stock opened at $20 a share and went as high as $25 before pulling back to around $22. The excitement on the floor was palpable. The Pandora executive team rang the opening bell, and a throng of employees and guests of the company (identifiable by their gold badges) mixed with the crowd of brokers and media at the Knight post where Pandora was being traded. Effectively, Pandora’s value more than doubled from the announcement of its initial price range to the $20 open this morning, indicating plenty of demand. CEO Joe Kennedy made the initial trade in the company’s stock, according to CNBC. Only approximately 9 percent of the company was floated, and despite the early surge in value, many are concerned that the decade-old company has yet to turn a profit. CNBC continues that 97 percent of Pandora’s revenue comes from advertising.   In the photo gallery below, you’ll see photos from the floor of the NYSE. The employees gathered outside the exchange for photos, the ceremonial ringing and the action on the floor are all captured for you to check out.

[Photos courtesy of Inside Investor Relations]