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Thread: SIRI closed at 20 cents today......your thoughts?

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    Demian is offline
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    SIRI closed at 20 cents today......your thoughts?

    SIRI closed at 20 cents today......your thoughts?

    I'm disgusted...

  2. #2
    xitvp is offline
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    Quote Originally Posted by Demian View Post
    SIRI closed at 20 cents today......your thoughts?

    I'm disgusted...
    At this point, this stock is not going to go anywhere (or at least not up) until there is a refinancing deal in place. What scares me is that with the stock price continuing to plummet, you'd think a deal would have been done if it were possible. I am now getting worried that SIRI can't get a loan. I hope I'm wrong.

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    Demian is offline
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    Quote Originally Posted by xitvp View Post
    At this point, this stock is not going to go anywhere (or at least not up) until there is a refinancing deal in place. What scares me is that with the stock price continuing to plummet, you'd think a deal would have been done if it were possible. I am now getting worried that SIRI can't get a loan. I hope I'm wrong.
    If one or more institutions want to make a quick boatload of money, it's a no brainer - load up on the stock and then finance SIRI's debt.....

    I'm still holding hope that those 3 recent debt for stock exchanges were part of a bigger deal, but I could be wrong about that. Why would Mel be trading stock for debt down at these levels and several months early - unless it was part of a bigger deal? It seems pretty obvious to me that they will have enough cash on hand to pay off the remaining 210 million when it comes due in Feb. '09. Mel has said that he wanted to finance it sooner rather than later to take that question mark out of the equation and I still think that is his plan......

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    RickF is offline
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    I too am getting a bit more than worried - it seems to me that if Mel had ANY good news he would be putting it out. This low stock price can't be good for anything to do with sirius.

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    SteveSirius is offline
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    On top of the obvious roadblocks to Sirius XM of debt refincing, we now have in our face the potential bankruptcy of the auto industry. There is doubt that the government is going to do anything to stop this downward spiral in the auto industry. So, as Sirius' fate is so tied to the fate of the auto industry, that would seem to be yet another factor making Sirius' future seem so up in the air - both as to auto installs, but the possible great increase in the U.S. unemployment rate. We all keep waiting for the other shoe to drop, only to find out that there are still so many other shoes dropping from the back of the closet, shoes we never suspected we had!!!!

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    RickF is offline
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    Angry

    Quote Originally Posted by SteveSirius View Post
    there are still so many other shoes dropping from the back of the closet, shoes we never suspected we had!!!!
    Ain't it the truth !!!!!

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    Siriusowner is offline
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    Quote Originally Posted by Demian View Post
    SIRI closed at 20 cents today......your thoughts?

    I'm disgusted...
    Heavy selling. Once again, the environment is becoming increasingly difficult & bearish. The perception from the street is not good, sadly, it is in sync with Sirius reality.

    Supports have been broken and there is nothing to stop the stock from going down to $0.00

    Do not add to the position, even if you wish to average down. We have a high probability of BK (I'd say 80%).

  8. #8
    Demian is offline
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    Quote Originally Posted by Siriusowner View Post
    Heavy selling. Once again, the environment is becoming increasingly difficult & bearish. The perception from the street is not good, sadly, it is in sync with Sirius reality.

    Supports have been broken and there is nothing to stop the stock from going down to $0.00

    Do not add to the position, even if you wish to average down. We have a high probability of BK (I'd say 80%).
    No chance of BK anytime soon. They couldn't go BK even if they wanted to. Next debt hurdle is not until Feb. '09 - and they have already paid a 3rd of that. S2 held today.......

    Nothing to stop the stock from going to $0.00?

    Please........

  9. #9
    Siriusowner is offline
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    Quote Originally Posted by Demian View Post
    No chance of BK anytime soon. They couldn't go BK even if they wanted to. Next debt hurdle is not until Feb. '09 - and they have already paid a 3rd of that. S2 held today.......

    Nothing to stop the stock from going to $0.00?

    Please........
    1.- I did not give you a time frame for BK. I just gave you a %.

    2.- Do you adjust your supports and resistances daily ? Are you day trading ? Major support was the year low and it was broken today.

    3.- Please what ? What is stopping the stock from going to $0.00 ? The company fundamentals ? Please.....

    The truth of the fact is that loving a company does not make its stock a good investment.
    Last edited by Siriusowner; 11-18-2008 at 10:30 PM.

  10. #10
    sxminvestor is offline
    Quote Originally Posted by Siriusowner View Post
    1.- I did not give you a time frame for BK. I just gave you a %.

    2.- Do you adjust your supports and resistances daily ? Are you day trading ? Major support was the year low and it was broken today.

    3.- Please what ? What is stopping the stock from going to $0.00 ? The company fundamentals ? Please.....

    The truth of the fact is that loving a company does not make its stock a good investment.
    News will come out in the next few days that they are continuing to sell boatloads of shares to cut down the Feb debt. They need about 650M by April for the Feb + May debt. At 20 cents, they need to sell 3 billion shares without going into cash. They asked the shares to be almost doubled to 8.5 billion, so they will continue to sell shares for debt because nobody will likely give them a term-loan in this atmosphere.

    Hate to say it, but it's the only way to stave off bankruptcy. Even with a miracle term loan, big trouble is looming with car sales & loans & we could end up being in the 8 million cars sold range in 2009. Sirius will have a hard time increasing revenue next year at this level and being cash flow positive.

    I feel this stock is headed for 10 cents and a at least 7.5 billion shares and then a 1:50 reverse split.

    Incredible product though - what a shame what the FCC did, how Hartlieb helped with the delay and what a perfect storm hitting right now in the US and the world. We're close to depression people, so I would not add any more because you are jus pissing away your $.

    And believe me, I want to load up big under 20 cents, but playing super lotto might be easier to hit or less risky. At least Lotto is just $1. I would want to buy 100k shares or more, but ZERO confidence because of my feelings above.

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