Pandora stock rises after company announces Snapchat partnership

MarketWatch - MarketPulse

Shares of Pandora Media Inc.
P, +4.64%
are up 2.1% in Thursday morning trading after the company said it has a new partnership with Snapchat parent Snap Inc.
SNAP, +0.44%
Snap’s stock is up 1.7%. “Soon, Pandora listeners will be able to send their favorite songs to friends and family through unique song cards that celebrate album art on top of an animated background, and receivers will be able to swipe up to listen directly on Pandora,” the music-streaming company said in a release. “This integration will expand Pandora’s social sharing capabilities by reaching Snapchat’s massive audience while enhancing music discovery across both platforms.” The feature will soon be available to U.S. users and is part of Snap’s new Snap Kit developer platform. Pandora shares are up 2.4% over the past 12 months, while Snap shares are down 24%. The S&P 500
SPX, +0.31%
has gained 14% over the past year.


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