satellite radio is dead

Sirius Plays Dangerous Game at Investors' Expense

Let me just throw my 2 cents in....

Which, when added to the closing price, gets us just above where relmar said the stock would close today, "easy".

The moral of the story: don't listen to relmar, he's costing you money. SIRI stock is wallpaper.

Sirius Plays Dangerous Game at Investors' Expense

Oh, boy, this is fun! Relmar, institutional ownerships are updated quarterly, not daily. Much of this data is from 12/31, if not 9/30. So it's likely that many of these holders are long gone, this data is at least 7 weeks old, and maybe as much as four months old. Furthermore, not a single "institution" on this list has any stake in the company that's even worth mentioning, no thanks to the dilution that Sirius takes almost monthly thanks to printing stock to pay down debt. At 6, excuse me, 5 cents a share, that gig is up, so they'll have to come up with real cash to pay this debt due next week. Thus, the bankruptcy filing that's imminent. Just think, if you'd have listened to me at my first post today, you'd have saved yourself 20% of the current stock price. We're swooning lower with each passing hour.

Sirius Plays Dangerous Game at Investors' Expense

Oh, boy, this is fun! Relmar, institutional ownerships are updated quarterly, not daily. Much of this data is from 12/31, if not 9/30. So it's likely that many of these holders are long gone, this data is at least 7 weeks old, and maybe as much as four months old. Furthermore, not a single "institution" on this list has any stake in the company that's even worth mentioning, no thanks to the dilution that Sirius takes almost monthly thanks to printing stock to pay down debt. At 6, excuse me, 5 cents a share, that gig is up, so they'll have to come up with real cash to pay this debt due next week. Thus, the bankruptcy filing that's imminent. Just think, if you'd have listened to me at my first post today, you'd have saved yourself 20% of the current stock price. We're swooning lower with each passing hour.

Sirius Plays Dangerous Game at Investors' Expense

Oh, boy, Mr. Relmar doesn't understand that when significant news exists, a huge pent-up demand exists to trade the shares, thus the huge volume spike in the first few hours. And the reason why there's no institituional selling is because there are no institutional holders. Penny stocks are for morons, not the smart money. Most money managers follow covenants that prevent them from buying penny stocks, which is akin to speculation, not investing. Why don't you look at my historical posts, I've been screaming to sell this pig for months, you're just a glutton for punishment.

Sirius Plays Dangerous Game at Investors' Expense

I'm splitting my side, I'm laughing so hard. The stock is down 50% TODAY, and we're on pace to trade more shares than any day this stock has been publicly traded. But no worries, "the volume is dying down", it's just "the panicked that are selling", as we approach zero, so the comments on this board go. Thankfully, we have someone monopolizing the posts, "fighting for people's savings". This is absolutely hysterical, who needs The Comedy Channel?

TAKE YOUR TAX LOSS AND GIVE IT UP! Geez, you are the types who keep leaving messages hoping that date will call you back. Get the message, it's over. The stock is down 98.1% from this time last year, it ain't coming back.

Sirius Plays Dangerous Game at Investors' Expense

Moronic posters to this story, your bus is leaving. The stock is a ZERO, common stockholders have no say in a bankruptcy filing. You clearly don't understand company capital structures. Debt holders are at the front of the line when a company goes bank-o. If Sirius can no longer pay their bills, the debt covenants stipulate that the company is in the hands of the debt holders. They'll dictate how the debt will be restructured. The common stock is finished, holders of common stock have no power in a bankruptcy. Six cents is a great deal when you consider zero is the real value. So sell the stock and take your tax loss.

Six Likely Takes on the Sirius Situation

SIRI holders, you are proving your delusion yet again. The stock is SIX CENTS, will you please comprehend this? SIX CENTS! The old adage is true about the dangers of assuming a good company translates to a good stock. The two are completely separate animals. Have you learned your lesson? Seems not.

Hold on to hope, because "neither the company nor Ergen has made any statements". Tyler, are you kidding? Are you really holding on to THAT? The hiring of bankruptcy help comes a week before a major tranche of debt is due. GIVE IT UP!

There's only one ray of hope: chapter 11 doesn't mean programming stops, first comes a debt restructuring process. In an environment like this, trust me, the company is about to undergo massive changes. The programming you are enjoying will never be the same. For example, don't be surprised if ads show up on the music stations real soon, Sirius can't afford to say no to any revenue opportunity now that they're at the mercy of vultures.

And cheer up. The government is bound to be the one doing the restructuring, they're the only ones who can afford it. Once that process begins, Clear Channel is next. Government-owned radio, that's where this is headed. Ask the bank CEOs what it's like taking marching orders from the government.