Here's Why Pandora's Crashing

NEW YORK (TheStreet) -- Don't say I didn't warn you.

You see the timestamp on that Tweet. Since that Tweet the stock's down roughly 16%.

And, as we speak, Pandora's (P) struggling to maintain $30.

Because it's faster to speak in Tweets as the market moves, here's my take on what's up ...

In the shell of a nut, Westergren made the wrong choice going with Brian McAndrews to replace Joe Kennedy as Pandora CEO. McAndrews and other recent hires do not understand Pandora's business and, more importantly, its culture. Plus, and even more importantly, they, guided by Westergren's unfortunate stubbornness, have not set the proper course for Pandora's evolution.

They're making all the wrong moves (or not making moves at all) with respect to data and dealing with content costs.

The big money's starting to sniff out what I've been warning you about for the past couple months -- all is not well at Pandora. Internally, nobody wants to talk, but, as frustration builds, I expect people will chirp. At some point, they'll feel that going on the record, even if anonymously, about what's wrong is actually the right thing to do to salvage Pandora's mismanaged business. 

And it is being mismanaged. I've never seen a company go south so abruptly. 

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