Copps And FCC Arrest Wienkes
In the last four trading days Mark Winkes, an analyst following the sector has come out with three reports, all of which were negative. The reaction by the street…..yawn
Wienkes has been a satellite radio bear for quite some time. About a month ago he took the price targets on Sirius an XM substantially. At that time the reaction was instant and dramatic. Sirius and XM, hampered by the lack of a decision on the merger, caved on the news.
Oh how the mighty have fallen. Perhaps it was a $5 price target on XM that the street simply viewed as going way over the edge, or perhaps it was that more recently there had been measurable activity on the merger. Either way, the words of Mr. Wienkes seem to no longer shine the way they did a month ago.
The merger news and the FCC seeming to arrive at the conclusion without additional delays seems to have arrested the opinion of Wienkes. Will we see yet another report tomorrow? Only time will tell.
Tyler,
Chances are greater today that Wienkes could be in cuffs in the end. Wienkes note today was not an opinion but a desperate attempt to further destroy the value of two companies. I will be very disappointed if Mel has not contacted the FCC asking for an immediate investigation focused on Wienkes timing of his notes.
Do you mean SEC? Or do you think Wienkes knows a leak in the FCC.
I meant the SEC. I think the leak always was Copps. He was Jacoby’s contact.
Perhaps it was that jackass saying sub growth was slowing right after they posted good sub numbers? Either way, that guy blew his load.
I wonder how much money his clients have lost? It seems like an act of desperation on his part to win back his momma’s life savings…or Jesse Jacksons…
Do you guys have a link of the comments Wienkes made?