Institutional Ownership of Cheap Stock
I'd seen in print and heard that big fund managers could not buy stocks priced under 10 dollars. Apparently, this is a myth. Mel said that anyone (implying institutions) can buy SIRI if they want it. Institutions have snapped up 92 percent of SIRI by some means. Mel said that pre-merger SIRI was largely owned by retail holders and that prohibited the company from obtaining financing. Well, one thing's for sure, he fixed the retail holder problem in a matter of hours and obtained the financing. Anyone seen anything on the $100 million paycheck for the XM CEO? It would be much better if that guy would take his money in stock and not cash.