Pandora stock plunges 4% after Apple introduces its new music service
Advertisement
Pandora's stock fell more than 4% Monday afternoon after Apple announced its new music streaming service.
Advertisement
After an initial plunge of 4.3% as Apple streamed its product launch, the stock is now hovering out at around 3.75% down.
Apple Music comes with a 24/7 online radio station called Beats 1, which will be free, unlike the rest of the product, which costs $9.99 a month for a single user, or $14.99 a month for a family plan with up to 6 users.
Complimentary Tech Event
Transform talent with learning that works
Capability development is critical for businesses who want to push the envelope of innovation.Discover how business leaders are strategizing around building talent capabilities and empowering employee transformation.Know More
Besides radio, the full service has curated playlists and recommendations made by real people, not just algorithms. Pandora's premium product, which lets users get rid of advertising and skip more songs, costs $4.99 a month.
Here's a look at how Pandora's stock has moved:
Advertisement
Advertisement
- Stock markets stage strong rebound after 4 days of slump; Sensex rallies 599 pts
- Sustainable Transportation Alternatives
- 10 Foods you should avoid eating when in stress
- 8 Lesser-known places to visit near Nainital
- World Liver Day 2024: 10 Foods that are necessary for a healthy liver