NEW YORK (AP) -- The shares of popular but unprofitable Internet radio service Pandora Media Inc. soared more than 50 percent in its market debut Wednesday.The company is:
Its shares opened at $20 a share and rose as high as $26 in early trading on Wednesday, up from its offering price of $16. At its high, that valued Pandora at $4.2 billion.
- losing money
- many years old, yet never managed to get traction
- extremely richly valued: $5 billion
- trading with single letter ticker "P" — another mania-time sign