And it's not because it's a good company. Even in good economic times, pay for radio was a failing industry. Top it off with the world today and it's a double whammy. What are you guys expecting this to turn around to, and on what basis? They have a ton of debt, growth is slowing astronomically, and people have no money! It's not like HBO where you can see movies before you can see them on ABC. You listen to the same songs, just no commercials. People don't buy into that.
I hold no position long or short in SIRI, but it irks me to see people trying to rationalize their way to why this is a good buy because it's so "cheap." It's not cheap, it's overpriced, and it falls more each and every day.
Some people say who's the idiot who sold 10k at 12 cents? Well, that's the guy who wants $1,200 instead of $0!
This is not meant to be a bash post at anyone; just expressing my opinion that your money is better off invested in a case of Bud Light. At least the booze will get you drunk. And hell, you can even recycle the cans for a few cents, which is more than SIRI is worth!
A link? Should I create some fake stock blog to give it reference? It's my opinion and obviously it's correct, else the price wouldn't be 11 cents per share would it? If it was a growing business, making money, it would reflect in the price. Some people like the service, that's great. MOST people I have asked have no interest. Most of them say, I drive 15-30 minutes to work and don't take many long road trips, so why do I need pay for radio? I agree with them.
I disagree with your assessment of the business model, but I'm not interested in going through your post point-by-point. The current economic turmoil has dealt the company a very bad hand. And, they're playing what they're dealt, as Melvin has previously said on a couple of occasions.
If car sales increase, it'll be good for growth. If the TARP Part 2 and President Obama's stimulus package are passed, it'll be good for the credit market and SIRI will have more options. Revenue is growing and expenses are shrinking.
In my opinion, it may only be a short turnaround time before things improve. Enjoy your Bud Light. I'll continue to invest.
good post, I've been holding and holding, but I'm at the point now to go ahead and take the loss, wait for the RS, short and recoup! I'll hold a 100 or so shares just in case there is a class action case someday!
Gosh,and i just bought more,along with the insiders and instutions!I am also buying land and picking up some nice houses also,do you care to comment again on what those who don't agree with you and what they do with their money??Start with IMHO,THEN I'LL GET OFF YOUR ASS!
I think the upcoming debt will be paid before any split so that the newly exchanged shares can be sold off for equal value to the time of transfer which is probably a stipulation of the exchange . Then the split possibility will be figured as a one for ten or one for 50 as needed to avoid delisting. I sirius gets over .40 I feel a 1 for 10 will be more likely. Dont forget the powers at be have a large stake as well and will at least try to save the company. Good luck to you though which ever way you choose Lisa