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Thread: Is the RS going to happen???

  1. #21
    trippingthespeculatingpos is offline
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    trippingthespeculatingpos's Avatar
    Joined: Dec 2008 Location: San Antonio Posts: 2,884
    just gotta wait for the spark, then its gonna take off, till then its gonna be no fun. i have no idea what that spark will be, probaly when they get there debt settled. till
    then id say buy more, i plan on it,specially if it goes even lower. if u believe in sirius why not buy at these prices.

  2. #22
    SteveSirius is offline
    Enthusiast
    SteveSirius's Avatar
    Joined: Jul 2008 Posts: 136
    In response to the question as to how a stock can trade below its "material value," it happens all the time. Stocks trade below "book value" all the time. It all depends on the fundamentals of the company at issue, and the market it finds itself in. Obviously, the market sucks right now. Sentiment sucks. There has been a lot of negative, irrational press. Etc., etc.

    In response to the question of whether to vote for giving the company the right to issue more shares and the right to do a reverse split, the votes are for exactly that - the RIGHT to do one and/or the other. I personally want the company to have the authorization to do both. They need the right to do a reverse split as a safety valve in case the stock price does not go above a buck, both for the issue of potential delisting, and to be able to go to potential lenders and be able to tell them they have that right. With regard to the authorization to issue more shares. I, for one, in this economic climate the world now faces, want to give Sirius XM the right to raise more money if necessary. They need to be able to do this in case financing proves not to be available at reasonable terms, on not available at all. Also, Sirius XM needs to be able to show potential lenders that they can, if necessary, raise money to pay back their debt if income projections do not come to fruition. Potential lenders will want real material assurances, not "projections" of future growth. I don't think Sirius XM will act irrationally if shareholders give them the right to issue more stock and do a reverse split, if necessary.

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