MINYANVILLE ORIGINAL Pandora
(NYSE:P) reports Q3 earnings today, December 4, after the close. The Internet radio provider has traded lower since reporting breakeven Q2 earnings of ($0.00) on August 29, 2012.
Priced at $11.72 after reporting Q2 earnings, the stock tumbled through mid-November, hitting lows at $7.20. November 19 marked the beginning of a strong rally the past two weeks and change, which pushed the price of back up to $9.25.
Just passing through the key technical level at $9.13, Pandora’s rally could continue to push forward; it's shown strong support at this level a handful of times in the past fiscal year.
Pandora has exceeded earnings expectations in four of the past five quarters. With a strong technical long play at hand and a history of exceeding earnings, Pandora could be primed for a strong up move.
Buy the Dec 10-11 Call Spread for $0.25
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