market folly

Rick Gerson's hedge fund firm Falcon Edge Capital has filed a 13G with the SEC regarding shares of Pandora (P).  Per the filing, Falcon Edge now owns 5.5% of the company with 11.62 million shares (including 6.95 million shares issuable upon exercise of options).

This is an increase from the 4.67 million shares of exposure the firm had at the end of the second quarter.  The filing was made due to activity on August 27th.

You can view other portfolio activity from Falcon Edge here.  Prior to founding Falcon Edge, Gerson was at Blue Ridge Capital since its inception.

Per Google Finance, Pandora is "a provider of Internet radio services. The Company offers personalized experience for each of its listeners wherever and whenever they want to listen to radio on a range of smartphones, tablets, computers and car audio systems, as well as a range of other Internet-connected devices. In addition, Pandora offers local and national advertisers to provide targeted messages to its listeners using a combination of audio, display and video advertisements."