Now that Citicorp is proposing one? Will this be the first in a line of boards suggesting one?
Now that Citicorp is proposing one? Will this be the first in a line of boards suggesting one?
wondering that myself, some well respected people on here think SIRI will RS before end of 09. That makes me think I need to take profits before it's too late.
It would certainly be helpful if other big players make the RS move before Sirius does it. Especially given how the MSM loves to harp on anything remotely negative when it comes to Sirius, e.g. the article by Rory Maher . . . although I'm hesitant to call PaidContent a part of the MSM!
To be honest, CITI's RS announcment reeks of despiration. Most RS's do. If Sirius wants to have a successful RS, one of two things needs to happen first:
1) The economy turns around (banks start lending, people start borrowing, and OEMs start selling)
OR
2) Sirius needs to prove at least 2, preferably 3 quarters of strong revenue. Q4 was a good start. Many think that Q1 will be negative sub growth. I agree with this group. If Sirius can turn and put up positive EBITDA with negative subscriber growth? I Say announce the RS at the CC.
There is too much liquidity in Sirius at this time. Price = Supply vs. Demand. With 4 billion shares outstanding, the supply is nearly infinite. We need to shrink the supply side to grow demand side, which will increase price. I think RS is a must, but the timing is VERY delicate. I say RS is required because covenants in the debt state that they cannot do a buyback until Debt is paid off. This will not happen for at least 5 years, probably closer to 7. That is too long to live with this kind of a float.
Good god I just almost had a heart attack when I saw this warning in Scottrade. It's not SIRI but I have to think that day is coming...
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Canceled Orders
Good til cancel orders in the following, entered prior to the close on 03/18/09, will be canceled due to splits today (03/19/09). Use caution in re-entering these orders, as it is the customer's responsibility to be sure the quantity is correct for post-split trading.
03/18/09 IMHI 1:30 reverse split