Don't Believe Everything You Hear About Sirius 142 comments
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It all started with a remark or two from Mel Karmazin at the recent Merrill Lynch media conference. I wrote that day exactly what it was Mel had done wrong, in this meeting of media moguls, and Mel was nice enough to apologize for his flippant remarks in an interview one week later with the Wall Street Journal.
As I troll through the barrage of news stories relating to satellite radio, it has dawned on me that perhaps the most damaging comment from Mel has not been addressed. He said that “regular radio sucks” as an investment. The problem with this statement is that regular radio is owned primarily by NAB controlled, traditional media companies. The recent negative bias seems to be nothing less than a smear campaign designed to destroy confidence in Sirius XM (SIRI).
And it’s working. Even the strongest supporters of Satellite Radio seem stuck on this issue of debt due next year, and their confidence in the product and company is being destroyed. They have created a fear and doubt scenario that has become the focus of Sirius XM. New products and programming, analyst buy ratings and reaffirmations, and great new pricing options are doing little to affect this negative sentiment.
Every article I read these days mentions at the very least, the 300 million dollars in debt that Sirius XM has coming due in February 2009. Not one of them mentions the plan laid out by Mel & Co. to deal with the issue. Everyone looks at Lehman (LEH) and makes the assumption that liquidity problems in the investment banking sector are a negative for Sirius. Nothing could be further from the truth.
The reason I propose this is that Sirius has made it clear that they first intend to use cash on hand to dispose of the convertible debt obligation. Assuming Sirius was to use 150 million dollars, that would only leave 150 million to dispose of. The company has offered that any shortfalls would be made up of bank loans. There are other options as well. Lines of credit from the OEMs and Loral (LORL) for example. My personal opinion is that more than enough cash will be available when these debt obligations are due.
It seems no one is willing to give the company time to execute on its business plan. A la carte offerings, “best of” programming and even the new navigation systems offer increased incremental income and should greatly improve the company’s liquidity and top line growth well before next February. If I can figure this out, why can’t Wall Street?
The answer, I’m afraid, is in the negative media bias campaign. It looks to me like the NAB is not quite done with their mission to diminish competition, by removing the greatest threat to terrestrial radio’s stranglehold on the American public: Satellite Radio!
Position: Long SIRI, no position LORL
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This article has 142 comments:
od Nab going out an embarrassment now,,hang it up NAB
Despite the negative reports, which as you say are coming from a variety of sources with their own agendas to want to see SIRI suffer, there are many reasons SIRI is just not on any brink of failing whatsoever. It's interesting that yesterday was the very first public report I've ever seen (seemingly finally by an unbiased party I might add) that highlighted the fact that SIRI, now with their near 20M sub base this year, puts them in the same league as the venerable Comcast.
"The newly merged Sirius XM is expected to close out the year with 19.5 million satellite radio subscribers. Its target for next year is 21.5 million. To put that number into perspective, the company's subscriber numbers are not far behind those of cable giant Comcast (Nasdaq:CMCSA), which has 24.6 million subscribers."
Let me just say this about that. Any company that has that kind of consumer reach (as Comcast does), has EXTREME value in the market place--period. Add in the potential yet unrealized uses and growth for the medium itself, and you have a powerhouse. Why do you think Mel did this deal in the first place? For his health? But if nothing else were true, the car OEM's alone would not allow SIRI to fail since they now count on SATRAD as a selling feature staple--both as the feature itself, but also from the sharing revenue they receive from it (which has become a staple on their balance sheets).
As I have said before on this board, it's just a little time that has been needed to get through the merger process once it finally got done and get things lined up. Life has gotten a little turbulent for SIRI but there is plenty of light at the end of this tunnel. Hang in there longs.
Btw, I saw that article with Mels "reqular radio sucks" comment. Seemed like minutes later it was gone. I assume SIRI had it pulled asap?
All, remember that the two democrats voted against the merger in the end. If Obama wins, the FCC board will be 3 democrats and 2 republicans. If that happens we can expect them, under the influence of the NAB, to throw everything they have at SIRI to either kill it or bust it up. VOTE REPUBLICAN!!
Facts are facts,
SIRIUS/XM is growing every day - Terrestial radio does NOT
SIRIUS/XM from a negative balance sheet --will become POSITIVE very soon
SIRIUS/XM is here to stay
SIRIUS/XM + APPLE + MOTOROLA + DIRECT TV + DISH NETWORK just a few to consider joining forces
possibilities are endless
People need to look and stick to the FUNDAMENTS of SIRIUS/XM
QUALITY PROGRAMMING WILL PREVAIL and this is what SIRIUS/XM
is working on.
I hate telling my friends who love my radio to wait to buy one because new technology is on the way to receive both Sirius and XM.
(lol)
"You got yourself a 2 dollar lottery ticket here", trading in the 20's right now, lol. About what KB Homes is worth in real money right now. Only people moving it are the shorts and a few occasional sellers.
Look up a stock trading above 5 dollars that you have never heard of and the media doesnt mention. Pick around 5 of those. Watch them for a few hours each. Come back to Sirius and KB Homes, any large bank...etc...
Like night and day in the action. Dont say all stocks trade differently, actually they only vary by volume and price, up or down is based on sentiment. All stocks should trade relatively the same. Fill one side move up, etc....to higher or lower ask/bid, etc.... Sometimes you get jumps or gaps, etc... but not every 2 seconds, lol.
: (
what should shareholders believe if siri management does not talk to them?
tyler's
what is the downside of sirixm filing bankruptcy and reorganizing debt free??
its horrible for the current investors obviously,,buts what to stop them?!? thats my fear...
Your vote hasnt counted since 1776. Democrat or Republican? What a joke, I ll take neither thank you. Both want to rob me, just in different ways. Ron Paul or bust. Vote no confidence, like Jessie Ventura suggested everyone vote. Your vote ONLY counts if you DONT vote republican or democrat. Then your vote counts. Other than that your voting for more of the same. Obama is completely and 100 percent controlled, and we know McCain is. McCain is a puppet just like Obama for Central bank interests. Central banks have owned wall street since 1913, do you think there going to give it back now? Just because they bankrupted hundreds of thousands of citizens, and lowered that standard of living for the rest? Vote the banks out, go ahead and try that one.
As usual the company loses $, yet salaries of the top tiers dont change...
OOOOOOOO
OOOOOOOO
I know, Pandora will offer him 60 million a year to go to internet radio.
LOL LOL LOL Wheres Jwede when I need him, hes probably crunching the numbers right now on that one..
Heslike...ooo. ya that sounds good. Pandora is the future, pandora , right Pandora is the future....Internet radio rocks!!! Wish It wouldnt keep going in and out, and I wish everytime the car moved it didnt need to reestablish a connection, lol. What did Howard say? Something about balls? LOL LOL I can see it now!!
Correct me if I'm wrong, but doesn't 'radio that sucks' have 230+ million people listening to it every day? And doens't Comcast compete with many other cable companies as well as Verizon in key geographies for its subscriber base?
For satellite radio AS A MONOPOLY within its domain - paid audio entertainment delivered primarily to cars - to project less than 1% of the 'old radio' base will add their services over the next year doesn't make me feel really happy about their growth prospects.
On top of that, 'subscriber' doesn't mean 'paid subscriber' since that first year 'trial' you get with new vehicles is not paid in full by the auto manufacturers. Also, how many of these 'subscriptions' are currently cars sitting in the lots of auto dealerships around the nation?
Sell Sell Sell.
total financial system collapse = siri up
go figure....
Trading programs coordinated to work together, by the law, is illegal. If one trading program is running, it cant function through 3 differnet trading windows(manipulation). So nice try. And if only a trading program is running on the buying side(KBH) and they are buying and selling back and forth(jail time). Look up SEC regualtions if you have any questions. Thank you/
As for GS shares, it was an agreement to buy longs per short entered to hedge the new bonds. Thats why they tanked the stock, so those longs are at .70 cents etc.. There shorts were started at 2.70- 3.20 range or higher. Thats why they used jumps to accumulate short shares. Imagine a huge mass of people running into a bowl of jello, and just getting absorbed. Kind of like that. Its ok going at first, but it wears on you, and over time that bowl of jello turns into a spring(in the other direction) BAD analogy, sorry, lol. But i think you get my point. And Im Not Jim Cramer, is that all you can respond to my accusations of manipulation. That trading programs are out there? Sure, but they arent allowed to manipulate price are they? No, they are in place to hit triggers fast, and react to the market NOT CREATE THE MARKET YOU TROLL!!!!
Thanks for agreeing with me by the way, nice!!!! Now I have you on record as saying trading programs exist that can move prices. Thank you. And sophisicated ones can CONTROL PRICES(thats illegal).
Do you know what illegal is? Do you know the law? So when you come on here and say we are complaining about the "market", Im not complaining about the market. The market wants this stock over 3, EASY. I can prove it by buying interest and up ticks vs. down ticks. etc... Not hard if you know math. Volume spikes are huge indicators to of manipulation. So you agree there are programs manipulating stock prices, but you dont agree they work in conjunction with others and youbelieve in santa clause too. I got it. GO SANTA!!
As for them covering their shorts, because of the naked short selling rule, im not sure, but market action today indicates some reluctance to short past 90 cents. Is it a bottom forming? No clue, but it looks good.
I would now recommend buying Sirius(My official position has been hold up to now) if its crosses 1.15.
1. Naked short selling rules scares ALL shorts.
2. Announcment of financing
3. New revenue steams.
4. Breaking 20 million subs before Q4.
5. Car sales shoot up.
6. Beating their quarters.
As you can see, theres more up potential here than down. I think if it crossed 1, they will try one more time to drop it under, and when it crosses again it will stay past 1. IMVHO
Another point from the past, now that im mentioning the "evil one". He recommended to his viewers to buy the debt(wow, hes actually telling his viewers to buy the debt of a company he sees going bankrupt. Not to mention its impossible to buy these bonds, lol lol lol hahahahha. There packaged in a GS package that only pays like 2. something percent. So basically Cramer is suggesting to you that you lose 9 percent of your money this year(real inflation is over 10 percent this year). Thanks Jim, with friends like you , who needs enemies.
One sec.....
The whole collapse of this market is based on unprecedented financial fraud between firms like CFC, and the ratings agencies which rated their paper and the investment banks who peddled it. So please don't tell me that illegal things shock you. I'm sure that you were horrifed to learn about the massive and illegal back dating of stock options that has gone on too! The electronic trading programs do, illegally as you point out, collude. Since we are name calling, how can you be so technically savvy as you obviously are, and yet such a complete Pollyanna about things that are not in your favor. Yes Inspector, there is indeed gambling in Casablanca!
Share Lending Agreements: On July 28, 2008, we agreed to lend
Morgan Stanley Capital Services, Inc. an aggregate of 188,399,978 shares of our common stock and to lend UBS AG, London Branch, an aggregate of 74,000,005 shares of our common stock. Each of the share lending agreements will terminate on or about the maturity date of the Exchangeable Notes, or, if earlier, the date as of which the entire principal amount of Exchangeable Notes ceases to be
outstanding as a result of exchange, repayment, repurchase, or otherwise. The share lending agreement with Morgan Stanley Capital Services, Inc. is guaranteed by Morgan Stanley.
From Sirius XM Radio's Prospectus for the Bond Offering of July 28th:
.... 183,679,988 of the borrowed shares will be initially offered at $1.50 per share, and the remaining borrowed shares will subsequently be sold at prevailing market prices at the time of sale or at negotiated prices.
The shares of common stock being offered by this prospectus
supplement are shares that we will loan to Morgan Stanley Capital Services, Inc., an affiliate of Morgan Stanley & Co. Incorporated, and UBS AG, London Branch, an affiliate of UBS Investment Bank, which affiliates we refer to as the "share borrowers." These shares are referred to in this prospectus supplement as the "borrowed shares." The share borrowers will sell a portion of the borrowed shares in a fixed-price offering expected to close concurrently with the Notes offering described below.
We have also been advised by the underwriters for this offering that over the same period that the share borrowers will sell the additional borrowed shares, the share borrowers or their affiliates expect to purchase at least an equal number of shares of our common stock on the open market and/or to enter into derivative transactions providing them with a synthetic long position with respect to an equal number of shares.
I'm sorry Relmor but nowhere does Goldman Sachs come into this transaction unless they bough some bonds as offered. We don't have a reporting yet of this offering, so there is no way to know. The SP went to $1.50 after the merge because the borrowed shares were priced at a $1.50.
Are they going to impose rules to prevent hedge funds from buying up stocks with the money they do not have?
Rock on SIRI!...
SIRI = The heart of a champion. A few observations.
1. The second EOD quick move up in as many days should not go unoticed. Is the financing news close at hand? MM's are now jumpy at the close--retreating to the middle of the pack. Who knows what the little birdie is whispering. Don't forget, Mel's been working on this financing probably since the merger. It will be coming sooner than later. As he said, it was ugly financing (through the bogus additional shares) and not the way he wanted to do it, but he had no choice. He had no choice but to allow what has happened to the stock--but he wasn't happy about it and most assuredly has been at work since finding the best lender he can get. He even said on Cramer that he intended to f-up the shorts.
2. No way will Mel K. be taking SIRI XM into any BK court. There's absolutely no reason to take a perfectly healthy, growing (now newly combined) company into a BK. How many companies can you name that merge, then head right in a BK and screw over shareholders, lenders, etc?...I think not many. I'm sorry but this option makes no sense. There are other reasons (if there needed to be any more) such as Mel K has NEVER operated that way in his career. He's not a snake. He might be a bit of a demanding asshole (who doesn't take no for an answer many times), but that works into SIRI's favor. He certainly ain't perfect and maybe be accused of lack of technical vision--but he IS a proven successful businessman not accustomed to failing. Right now, until proven otherwise, the smart money has to be on him to get things handled. Sure, things look a little bleak right now, but don't forget who's fault that is...aaaa, the FCC. Not Mels. Plus, he knows that any kind of BK or weird reorg at this critical time of the merge will tarnish the brand for the forseeable future. Do you think a tarnished brand is part of SIRI's biz plan? Nope. Not gonna happen. Some might think SIRI is like these financials who have bowed to the BK gods lately or needed bailouts. They were all HIDING their greedy troubles. SIRI has NOTHING to hide so they have nothing to fear. Time will bear out the truth. Their stock has not fallen because they are a bad company--it's because other greedy bastards are trying to hedge themselves. That will be coming to a close when the financing deal is at hand. All (or most) of those bogus shares will have to be re-bought and returned to SIRI. When that happens the stock, the float, and the short interest will normalize. I say keep the BK in the rumor mill where it belongs. Bankruptcy = HIGHLY improbable if not impossible at this stage...
3. Everybody and their brother on Wall Street knows what's happening to SIRI. Of course people like Cramer or Macke say stay away because they knew bad times were coming--which we've now all lived through. We're still here and not broken. Only the unenlightened have jumped to their 3K annual deduction death. R.I.P. to them but we're all still here and will ride out this event. Further, when you consider the new post merger share price was set at 1.50, being down .50 - .70 from there isn't the end of the world--if you know how not to jump. Yes, the percentage is a headline, but it's not that much in the scheme (considering the circumstances). Anyone staying long through this can consider themselves either experienced or baptized. All money managers go through times where they need an iron stomach (Or a case of Peptol!)--but you gotta have it to be in the Wall Street jungle--and to be a winner. If not, it's time to go home and play board games and drink lemonade. You gotta have faith in your motives and be there when the tables turn. The heavy lifting is essentially over for SIRI , or coming to an end very shortly. The main reason is many people are now realizing how great a value it is to BUY SIRI. 107,770,409 traded hands today on no news. The news is that the birdie is starting to whisper SIRI is a BUY at this level and the downside risk is minimal. Duh! Ya think? They know BK is out of the picture and Mel is close to a deal. So yes, it appears setiment is turning bullish with the ever so obvious tremendous upside. SIRI will never see these level again. I just bought more shares today. Hang in there all.
"There is a rumor traveling around from a very credible source that Mel, who is friends with Donald trump, has met with Trump and two of Trump's creditors and a deal to take care of all outstanding debt in the early part of 2009 is almost finalized. The terms are very easy and since the merger, operating expenses have been smaller than once figured with subscriptions climing actually more rapid than originally expected, stock prices are expected to soar for a while and could easily be in the 4.00 range by the end of 2008. A reverse split has also been tossed around and if emplemented will make this a very attractive stock. Sirius stock is going to be expected to soar as it has bottomed out recently."
s162, I can agree with many of your thoughts above. Unless the new bond debt, 7/28, is being paid off, the shares will not return to SIRI until the bonds mature, 2014.
Unlike the 2-1/2% convertibles maturing in Feb. 09, these new ugly debt convertible bonds can be exchanged by the holders for shares or paid off by the company early. I doubt that paying them off is a priority until the other 2009 debt issues are resolved.
These shares and their lending agreements, roughly 264 Mil, will remain as part of the Float outstanding until all bond principal is paid off or until maturity, 2014. According to GAAP, as reported by the company, they will not be part of company reporting metrics, EPS, etc. I don't think these shares are going away soon unless the new financing deal includes them.
Bdp...great find. This makes perfect sense and is related to what I have said before. It is a given that Howard is less than happy with the decline in value of his 34mil shares that were part of his 500M deal with SIRI (the old SIRI). Howard is friends with Trump and most certainly has talked with him about options. Mel is an old NY guy and if not friends w/ Trump, has his respect as a businessman and a winner--which of course is what Trump is also. Trump can see SIRI is a healthy business, therefore sees (and seizes) the opportunity.
This rumor is probably what has caused the last few MM jumps EOD this week. The picture becomes clearer...the time us near. Have a good one...
Sorry to be a pessimist. But, what's your source.
sl26,
You are thinking the same as myself. I believe that someone has indicated that a solution to the near term loan (Feb '09) is at hand. The amount of shares sold/bought at one time indicates a substantial player. The last time announcements were made, they were post market. I believe that someone (group) is trying to time the move!
A reduction in the number of a corporation's shares outstanding that increases the par value of its stock or its earnings per share. The market value of the total number of shares (market capitalization) remains the same.
For example, a 1-for-2 reverse split means you get half as many shares, but at twice the price. It's usually a bad sign if a company is forced to reverse split - firms do it to make their stock look more valuable when, in fact, nothing has changed. A company may also do a reverse split to avoid being delisted.
A reverse is where a company reduces it's shares oustanding in lieu of an equivalent higher PPS. Simple example: If a company has 1M shares out and their stock price is $1, if they did a reverse at 1:10, they would wind up with 100,000 shares outstanding @ $10 a share. In both cases market cap is 1M but companies do this to raise their stock price so a different class of investor wants to buy in. Many investors won't even consider dollar stocks ($1 - $5).
I'm not surprised to hear Trump is involved. A perfect fit with Howard and Mel. The SIRI will ride again...
CNBC reported a little while ago NY AG Cuomo is launching an investigation on the stock collapses of BS, LEH & AIG--into the short sell side of it...
What sucks on the short side (even non-naked) is the disproportion between what main street is able to do and what the hedges can do (whenever and however much they want). Their resorces of capital are vast while ours are miniscule. Some kind of limits should be put in place per day to make things more even. Oh, and I would get rid of pre market and after hours. That is where the hedges get the big advantage and cause main street the most losses.
SIRI's Knocking back on the $1 door... .99
www.washingtonpost.com...
I am not sure which astounds me more, this article, or that I am shocked that it was published... HA! He stats that closing at $0.94 was a bad thing... AFTER TWO DAYS OF UP! I can't believe what I read...
I do believe Mel K is either very close or has the new financing terms locked in. However, to release such information now would be a mistake. The best thing for him to do is wait a month or or even more, to see how far the stock will climb based on rumors and speculation. (like today) Then release the news as the February deadline approaches. I predict the first press release will be that the financing for the initial $300 mil. is in place and they have their first hurdle conquered. This will wet everyone's appetite and stimulate a steady price increase after the initial spike. A bit further down the road, The next financial hurdle conquered. Another spike and steady climb. Lastly, the final frontier. Mel announces Sirius has successfully navigated through the shit storm and there are nothing but blue skies from here on out! Following this plan would assure a greater certainty of the price leaping over the 5.00+ mark to put Sirius back into the big leagues with Mel, once again coming out on top as the envy of the business world! If the news is released while it hovers around 1.00, the most expected upsurge could be maybe to around 1.50. (50%! That is awesome! Great news for those who bought in at .68!) So then. Where is there to go from there? Wall Street still hates this stock and will continue to do everything to undermine it. In the current insane state of the market, Sirius is still too fragile and could still get eaten alive. Expect more rumors and confusion surrounding this stock in the coming weeks and watch the momentum build as the market continues to correct itself. But don't expect Mel K. to make that magic announcement any time soon. As far as the Trump rumor, I found it early this morning when I was surfing the web hunting the scraps of info. Although I can't personally vouch for this info, I do believe it to be true. It makes sense. You see, Mel is a member of that elite Billionaire Boys Club along with Trump and all the rest. Don't think that they would turn their back while one of their brothers go down with the ship of humiliation. It would send a message of weakness and vulnerability that must never be associated with any of their kind.
Mel doesnt know how to lead with management talk..bullshit
Personally bdp, you might be right but while I don't think Mel will blow his wad with all the news at one time, I do think the beginning of it is not far off (once the deal is actualy done). SIRI does have that stock price stigma they would LOVE to get rid of, and they will not be happy with that for too much longer. It makes people PERCEIVE them as a weak company (which they are not). Also, I think if Mel likes the deal, he won't wait to sign on the dotted line and announce. It will be a relief for the company to have it in the rear-view and then they can start putting all efforts to the product. So as you say, now we've just seen a pretty easy move from .68 to 1.05 so we know the stock can move to the upside easily (despite the heavy float). I think Mel would like to see the stock back up over 2 asap. That gives the company their cred back and gets some of the naysayers off their back--who say they're the "company that couldn't." Someone here said $3 by Christmas and I think that's entirely probable (at least intraday) as the pendulum will now overshoot the other way once the real momentum starts. That's my take anyway.
Capt knows...opportunities abound. Mad revenue is not far behind. I can't wait until SIRI buries the shorts, the float and all who say SIRI sucks!
And Between, you're all over it. I would watch for Trump to do something on the network, even if he's not involved with the financing deal. But it just makes too much sense that he will be in some way...SIRI rocks!
online.barrons.com/art...
The "Hype" is out of the stock and company. Now its time to wow folks with great products and great partners. Rumors about Trump are nice and may well live in reality, but there is a bad 3rd quarter with everything but the kitchen sink going to be thrown into it from the merger still ahead. Releasing some good news at the time of this reporting will ease the pain, and then bring on the good stuff with a pre-announcement of better than expected and debt refinancing in early December. It won't take much to bring the stock back to the 2.5 - 3 range after that.
Qwest, Amgen, Sirius Scrap Deals, Pay 14% Amid Credit Crisis
By Gabrielle Coppola and Amy Thomson
Sept. 19 (Bloomberg) -- The credit markets seizure is hurting companies outside Wall Street as executives from Amgen Inc., Qwest Communications International Inc. and Sirius XM Radio Inc. cope with the soaring cost of money.
Officials at Cablevision Systems Corp., Amgen and Qwest said they may use cash on hand to pay off debt as it comes due instead of rolling it over. Companies that must raise money, including Sirius and NextWave Wireless Inc., are paying as much as 14 percent in annual interest, the highest since 2002. NRG Energy Inc. canceled plans to refinance as much as $2 billion....
...Sirius, the New York satellite radio company created in the $2.76 billion all-stock purchase of XM Satellite Radio Holdings Inc. in July, has $300 million of bonds convertible into stock maturing in February. CEO Mel Karmazin said this week he plans to refinance the company's debt soon, although at an interest rate ``far higher than we'd like to pay.''
Sirius debt coming due in February has a 2.5 percent coupon; the $550 million maturing in 2014 is at 7 percent....
www.xmradio.com/weathe...
Good points. My take is we should start seeing more Ads going toward the holiday season--now that they know they can advertise themselves as Sirius XM rather than Sirius Satellite Radio. This one of the things that had to stay on the back burner because the FCC dragged it's feet...
I think it's probably true that they will pay a higher rate given their CCC credit rating (and how tight credit is today--not that it's unavailable, just tight and lending institutions are taking advantage of having the upper hand, like the ups and downs of the mortgage market for instance)...how high...good question. I would think there's a good chance they could find something a little lower than the reported 14%. But personally, I think that part will for the short-term be semi-irrelevant since it's mainly SIRI alleviating the default potential that's key. Having a higher interest rate does nothing to their true growth story--which they will easliy prove in the coming Q's.
:-)
These f--ckers like Tyler, pumping this s--t are unequivocally worthless scum. Stocks are to be evaluated, not pumped.
Good luck
Every point in time for a stockholder is a different story. Sorry you had bad experiences, but if you bought shares at 1.82, and sold at 2.75(possible) you wouldnt be angry with Sirius. Dont hate the stock cause you played it wrong. And dont be mad at the company either.
-money losing business
-heavily in debt
-competition that emerged which puts the business model's viability at risk
-management which is oblivious and or helpless to creating shareholder value
-radio us kind of over, it was replaced by TV
but hey, nothing wrong with speculation, I suppose, if you accept the risk,
anyway, the whole siriusbuzz and similar phenomena irk me,
Good luck everyone, but analyzing the fundamentals and the competition is probably a safer idea than luck
and again, I am not angry, I actually made made money on this dubious stock. By the way, if they straighten out their financing and begin to have a positive cash flow, it may be a good stock at that point.