120 million shares were returned to the market makers between Friday and yesterday. Today alone, in one hour only, 30 million shares were sold.

What triggered the selloff ? ... Perception. With the state of the economy, no one thinks Sirius can get its debt refinanced. Everyone thinks they will further dilute the stockholders equity.

The good news ? Silence from the company. It looks to me that if they talk, only bad news will come out.