I've been daytrading Pandora today (P) and was doing rather well until a massive drop at 12:15pm caused all my profits to turn into a $330 loss (not that big of a deal).
Anyway, I was curious, does anyone know who is selling/buying all these shares ? I know Goldman or whoever backed the IPO is probably selling their shares, but I'm wondering who is buying all these shares they keep selling/dumping that push the price down ?
There was a couple million shares sold in 10 min as the price dropped 8%. Someone is taking a haircut or holding for the long term ????