Explanation of why the common shares are worthless
The common shares are worthless because:
-There's no asset value (shareholder equity) backing them up.
-There is massive amounts of debt and preferred stock in line ahead of the common.
-The preferred share dividends will continue to chew up much of the cash flow, until the shares are converted to 2.5 billion shares of common, at which point common shareholders will enjoy a dilution tsunami of approx 60%.
-After all these years, the co is still barely teetering on the edge of break-even on an ongoing basis.
A company's common shares are predicated on the company either paying an attractive dividend or growing to be a more valuable co in the future. siri has neither of these attributes.
Whatever meager assets there are, are owned by the debtholders and the preferred stock holder (Liberty Media).
If you can’t understand this basic fact, you should be in mutual funds, not buying stocks directly yourself.