Miss Pandora Media's $25 Secondary But Think It's A Steal At $17?

Looking back to 2 days ago, Pandora Media (NYSE: P) priced a 18,200,000 share secondary stock offering at $25.00 per share. Buyers in that offering made a considerable investment into the company, expecting that their investment would go up over the course of time and based on early trading on Friday, the stock is now 5.2% higher than the offering price.