Pandora starts trading at $20 in debut

Reuters

NEW YORK (Reuters) - Online radio company Pandora Media Inc opened at $20 a share in its stock market debut on Wednesday, well above its IPO price of $16, reflecting investor appetite for Internet companies.

Late last week Pandora revised its expected IPO price range to $10 to $12 per share.

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The decade-old company has yet to turn a profit.

(Reporting by Jennifer Saba; editing by John Wallace)