SIRI Intraday Updates for the Week of 11/17/08

[Demian]

The Motley Fool again today..........

http://www.fool.com/investing/value/...is-at-023.aspx


November 18, 2008, at 2:35 PM, DemianBohemian wrote:

Were you calling it a slot machine when the Motley Fool recommended XM as a stand alone company to their paid subscribers at over $30 a share? The Motley Fool has been bashing the combined company down in the pennies day after day. What kind of pump and dump operation are they running? It's quite amazing that they release so many articles day after day with the SIRI ticker symbol in them. They have lost all credibility and are now fishing for hits...
The Motley Fool is a joke.....

[Demian]

Pivot Table for today
R2 - R1 - Pivot - S1 - S2
0.28 0.25 0.24 0.21 0.20

About an hour left to go with the market bloody red...

SIRI seems to have found support at S2, but that's what I thought yesterday before it tanked into the close. This bleeding can't last forever...can it?

The volume seems to be picking up today...

[Demian]

SIRI closed down 13.04% @ .20 on volume of about 60.3 million with the market closing in the green.....

[Demian]

After Hours Trade Reporting

After Hours
Last: $ .209
After Hours
High: $ .21
After Hours
Volume: 683,906
After Hours
Low: $ .20

After Hours
Time (ET) After Hours
Price After Hours
Share Volume
16:41 $ .209 100
16:38 $ .20 436,699
16:34 $ .209 300
16:34 $ .209 100
16:31 $ .2045 2,500
16:27 $ .20 20,200
16:24 $ .209 100
16:24 $ .21 300
16:21 $ .209 300
16:18 $ .20 4,340
16:18 $ .203 100
16:16 $ .203 308
16:15 $ .21 100
16:15 $ .21 100
16:15 $ .21 100
16:15 $ .21 100
16:15 $ .21 100
16:14 $ .209 100
16:14 $ .209 100
16:14 $ .209 100
16:14 $ .209 100
16:14 $ .209 100
16:14 $ .209 100
16:14 $ .209 100
16:14 $ .21 100
16:14 $ .21 200
16:14 $ .21 200
16:14 $ .21 200
16:14 $ .21 100
16:14 $ .21 200
16:13 $ .21 1,665
16:13 $ .21 2,335
16:13 $ .21 165
16:13 $ .21 4,835
16:13 $ .203 748
16:12 $ .21 500
16:12 $ .21 300
16:12 $ .21 500
16:12 $ .21 100
16:12 $ .21 200
16:12 $ .21 400
16:11 $ .2024 575
16:10 $ .2097 500
16:10 $ .2097 100
16:10 $ .2097 500
16:10 $ .2097 200
16:10 $ .2097 200
16:10 $ .2097 100
16:10 $ .2097 200
16:10 $ .2097 400

[SiriusHope]

Yes, Sirius XM (SIRI) Can Certainly Go To Zero
Henry Blodget | November 18, 2008 7:49 PM

A friend approached us with a potential stock pick this afternoon: Sirius XM (SIRI) on the theory that it had gone so absurdly low ($0.20) that it couldn't go any lower and would probably soon go to $0.30, resulting in a 50% gain. We suggested our friend instead hoard his hard-earned cash.

Could Sirius go to $0.30? Of course. Could it also go to zero? Yes.

Mel Karmazin's company currently has an equity market capitalization (value of the stock) of $650 million. It also $360 million of cash and $3.3 billion of debt, so its "enterprise value"--the implied value of the business itself--is about $3.7 billion. The only thing that has to happen for Sirius (SIRI) stock to go to zero is for the market to conclude that the company is worth less than $3 billion. This would wipe out the company's stock value, leaving the company in the hands of the debt-holders.

Why might the market soon conclude that Sirius is worth less than $3 billion? Because it's running out of cash. In the first 9 months of this year, Sirius had negative free cash flow (cash from operations - capex) of $300 million. $360 million of cash won't last long at that burn rate.

Sirius's stock is now low enough that it will be hard to raise capital by selling stock, and we can't imagine who would be willing to lend the company money right now. That means the company's cash cushion is likely to get dangerously low, perhaps forcing Sirius into a highly dilutive equity deal that will put additional pressure on the stock. So it's not hard to see how the stock could go to zero (or close to it).

[Demian]

SiriusHope,

Please post a link to the original source along with articles.....

Here is the link to that article....

http://www.alleyinsider.com/2008/11/...nly-go-to-zero

You already posted that in another thread too....

That outfit has been spitting out tons of negative stuff about SIRI. I don't know if I trust their motives...

Be careful out there people....

[Wheelhouse]

This is very cynical, but could management be negatively influencing the stock in an effort to influence the shareholder vote on the reverse split?

[APEXSPORTS]

WTF .18 .18 .18 THIS IS REAL PAIN..

THE NASDAQ IS GOING DOWN TO 1200 AND DOW TO 7000 BUY X-MASS SIRIUS COULD BE .13 DAMMMMMM MEL DO SOMETHING...


AND YES IN YELLING !!!

[Siriusowner]

WTF .18 .18 .18 THIS IS REAL PAIN..

THE NASDAQ IS GOING DOWN TO 1200 AND DOW TO 7000 BUY X-MASS SIRIUS COULD BE .13 DAMMMMMM MEL DO SOMETHING...


AND YES IN YELLING !!!

Apex I thought you were a trader, why didn't you stop your losses ?

[Demian]

Looking at my computer screen is making my eyes and stomach hurt....

Between SIRI's stock price and Apex's all caps posts, I don't know how much I can take...

SIRI at about 17.5 cents after hitting a low of 16.3 cents......

This is really sad.....