I'm not sure if Songza or anybody else for that matter will take the crown of Internet radio pioneer away from Pandora. But I am certainly not concerned. I did not invest in Pandora because of what everybody else does. I invested in Pandora -- and bought more on Tuesday's weakness -- because of Pandora's long-term story. Songza did not just blow it to bits.
That's really the key. Are you a long-term investor? If so, define long-term. You might define it differently than I do. I measure it in years, not months or weeks. As such, I actually appreciate guys like Greenfield. They help provide the dips that I can buy on.
Zynga (ZNGA - Get Report) experienced an even steeper decline than Pandora on Tuesday. It was down for a similar reason. The latest numbers show a decline in the number of people using the company's games.
The problem, or so the story goes, is that with Facebook's users migrating rapidly to mobile, Zynga loses because you can play its games on the FB mobile app.Now, there's no question that the Facebook mobile app stinks. And there's also no doubt the Zynga hitched its load to Facebook big time. The company's CEO, Mark Pincus, admitted (and explained) this just the other day at the All Things D conference. If you listened closely, you realize that Pincus sees a way forward. Zynga will make the mobile transition just like so many other companies in its class. Don't bet against guys like Pincus. Chances are they're smarter than you (not you!). For one reason or another, investors want everything to happen now, in a straight line and without any hint whatsoever of complexity. If it was only that easy. I have to give investors more credit than that though; traders probably account for a good chunk of these types of moves down. Stop losses likely play a key role as well. In any event, just like I bought more Pandora, I bought more Zynga. I'm not afraid, but, more importantly, I am not short-sighted. Follow @RoccoPendola This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.