Pandora Drops After Wedbush Says Overvalued, Could Face Apple Competition

Shares of Internet radio company Pandora (NYSE: P ) slumped on Tuesday following a downgrade from analysts at Wedbush. Wedbush lowered shares from Outperform to Neutral, citing “lack of near-term profitability” and noting that shares have traded up significantly since mid-November. Wedbush writes that strong earnings from Netflix (NASDAQ: