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Thread: Short Interest?

  1. #1
    Hopeful is offline
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    Short Interest?

    I know this is going out on a limb or maybe not. Does anyone think that the shorts may try to keep this stock below a dollar until the RS is forced and then feast like rabid wolves???

    Also just looking for some clarity. From what I remember SIRI has until December 09 to meet NASDAQ requirements, which then they can file for a 180 day extension???

    Thanks guys,

  2. #2
    Newman is offline
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    Just a bit off... NASDAQ has suspended their listing requirements until January or March of 2010 i believe. If they reinstate the listing requirements as is (and there has been a lot of talk about removing the $1 price requirement), then they will get a delisting notice. At that point, they have 180 days (6 months) to correct the issue. If at the end of this 6 month period they still have not satisfied the listing requirements, Sirius XM can file an appeal. This appeal gives them another 180 days to satisfy the listing requirements. So basically, there is no chance of getting delisted until at least 2010.

    As far as the shorts go, there was a massive short covering this past month... But apparently, noone told anyone because there really was no squeeze. The short interest in SIRI dropped something like 40% over the last month. Perhaps the MM manipulated the stock so that their short buddies could cover. Watch the short interest next month... if you see another drastic decrease in the short percentage, then the stock is about to make a move up (If you haven't missed the move already).

  3. #3
    Hopeful is offline
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    ~~~Polite comments removed~~~
    Last edited by Hopeful; 02-27-2009 at 01:22 AM.

  4. #4
    trippingthespeculatingpos is offline
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    remember the ugly financing> i think thats why we didnt see a short squeeze, they are covering they're shorts with equity sirius issued them, So they do not have to buy back stock to cover, just cover with the stock siri gave in a debt for equity swap. I dont think there are too may retail shorts, anywa was reading about convertible bonds and how the lender can short the stock and then cover with the equity issued to them by the company. Go to wikipedia and read their entry for convertible bonds.

  5. #5
    Newman is offline
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    Tripp: The problem with that senario is that none of the ugly financing (except perhaps some of the Dec. debt) has been converted. Most of the ugly financing is not due until 2014. Although, if anyone holds both bonds and converted some of the Feb or Dec bonds for stock, they have their 2014 shorts more than covered...

  6. #6
    winagain35 is offline
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    True, but you can bet that the original holders of the 300mil Feb converts had short hedges. And it's likely that a portion of one or more of the debt for equity swaps prior to Ergen coming in were used to cover short positions without having to buy on the open market.

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