Why Pandora Media (P) Stock Is Down Today

NEW YORK (TheStreet) -- Pandora Media (P) stock is down 4.9% to $28.39 Friday, continuing a decline that began during afternoon trading on Thursday.

Pandora said yesterday morning that their listener hours rose 14% to 1.71 billion from 1.49 billion in March 2013, helping the stock rise 4.48%.

However, the stock declined following news that Pandora's average user count for March 2014 remained a flat 74.7 million.

Investor research firm B. Riley said it was "disappointed with [the] flat M/M active user growth."

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