Results 1 to 7 of 7

Thread: Sirius XM Investors Mount Grassroots Effort for SEC Reform

  1. #1
    sxminvestor is offline

    Sirius XM Investors Mount Grassroots Effort for SEC Reform

    Sirius XM Investors Mount Grassroots Effort for SEC Reform

    'Stock Shock-The Movie' is being used to rally SEC to reinstate uptick rule.


    HOLLYWOOD, Calif., July 22 /PRNewswire/ -- "Stock Shock-The Movie" is sending shock-waves through the offices of the SEC as regulators receive DVD's everyday in the mail. Disillusioned Sirius XM investors have embraced the movie that tells their story and now are sending their new and used copies directly to the Securities Exchange Commission. In addition to telling the general history of Sirius XM satellite radio, the movie lays out a compelling case that the stock of this company has been heavily and illegally manipulated, both through naked shorting and also through more standard manipulation tactics.


    One investor writes, "I enclose with this letter a DVD copy of the movie: Stock Shock. It is the failure of the SEC to so much as ask the right questions that has ruined its reputation among American investors. The idea that independent movie makers have to produce a feature length movie about stock price manipulation to bring public attention to this issue is pathetic."


    "Stock Shock" zeroes in on one of the most shorted stocks on the Nasdaq: Sirius XM, which hit a high of $9.00/share and then plummeted to a horrifying low of .05 (cents) in 2009, leaving an estimated one million Sirius XM investors with their dreams shattered and their bank accounts emptied. Now fans of the movie are taking matters into their own hands as they share information and addresses on the Yahoo finance boards and join forces to change the way short-selling is regulated.


    Antony Richard Petrilla, Division of Enforcement at the SEC confirmed the offices have received copies of "Stock Shock" and the SEC public affairs office has been in communication with the film's director, Sandra Mohr. SEC public affairs had no comment.

  2. #2
    SiriusBuzz is offline
    Head Honcho
    SiriusBuzz's Avatar
    Joined: May 2007 Posts: 2,495
    Sirius XM, which hit a high of $9.00/share and then plummeted to a horrifying low of .05 (cents) in 2009, leaving an estimated one million Sirius XM investors with their dreams shattered and their bank accounts emptied.
    I think this comment weakens the whole point they are trying to make. It just sounds like sour grapes to anyone reading it. There are plenty of similar situations where people get killed betting on a stock. I personally know people who owned $40+ per share stocks that have been reduced to micro stocks.

    Stick to the issue at hand, if its manipulation and insider crap, then say that but stay away from the actual share price in a press release...one mans opinion.
    Charles LaRocca
    SiriusBuzz Founder

  3. #3
    relmor2003 is offline
    Mentor
    relmor2003's Avatar
    Joined: Oct 2008 Posts: 1,937
    Quote Originally Posted by SiriusBuzz View Post
    I think this comment weakens the whole point they are trying to make. It just sounds like sour grapes to anyone reading it. There are plenty of similar situations where people get killed betting on a stock. I personally know people who owned $40+ per share stocks that have been reduced to micro stocks.

    Stick to the issue at hand, if its manipulation and insider crap, then say that but stay away from the actual share price in a press release...one mans opinion.
    I agree. But its a press release, and sometimes the person who writes that doesnt really know how best to reflect a concept, etc...
    Or how it could be taken wrong.

  4. #4
    GoHerdGreg is offline
    Senior Member
    GoHerdGreg's Avatar
    Joined: Mar 2009 Location: WV Posts: 314
    Quote Originally Posted by SiriusBuzz View Post
    I think this comment weakens the whole point they are trying to make. It just sounds like sour grapes to anyone reading it. There are plenty of similar situations where people get killed betting on a stock. I personally know people who owned $40+ per share stocks that have been reduced to micro stocks.

    Stick to the issue at hand, if its manipulation and insider crap, then say that but stay away from the actual share price in a press release...one mans opinion.
    I disagree. For total disclosure, I need to point out that I make my living as a magazine publisher, a hard-working member of the mainstream media.

    1. This is not a press release. It is a story. There is a big difference.
    A story has quotes and information attributed to outside sources. A press release is all information from within a company. Journalism vs. PR.

    2. That comment (about the share price) illustrates the main idea of the story in vivid detail that just about any human being can understand.
    It chronicles (in one sentence) the ultimate result of the manipulation and naked shorting. It is the result. It is necessary to show what has happened in a simple dollars-and-sense format.

  5. #5
    clueless is offline
    Senior Member
    clueless's Avatar
    Joined: May 2007 Location: New York Posts: 251
    Quote Originally Posted by relmor2003 View Post
    I agree. But its a press release, and sometimes the person who writes that doesnt really know how best to reflect a concept, etc...
    Or how it could be taken wrong.
    Huh? That is their job man. Even if they don't really know first hand, it is their job to get the info painted in the best picture possible.

  6. #6
    SiriusBuzz is offline
    Head Honcho
    SiriusBuzz's Avatar
    Joined: May 2007 Posts: 2,495
    Quote Originally Posted by GoHerdGreg View Post

    1. This is not a press release. It is a story. There is a big difference.
    A story has quotes and information attributed to outside sources. A press release is all information from within a company. Journalism vs. PR.

    2. That comment (about the share price) illustrates the main idea of the story in vivid detail that just about any human being can understand.
    It chronicles (in one sentence) the ultimate result of the manipulation and naked shorting. It is the result. It is necessary to show what has happened in a simple dollars-and-sense format.
    I am with you and I get your point. I have actually done a number of press releases in my time but nothing like what you are accustomed to.

    1. It doesn't matter to me if it is a release or a story, I think its a weak point. There have been other stocks which have succumbed to a much worse fate. Maybe you are correct and it does help paint a picture but, it just came across as sour grapes to me. Dont make the issue about the money as it comes across as disingenuous. Just my opinion.

    2. Agreed. All I am saying is that it would have been nice to see them make a solid point without the cash... even using a percentage may have looked more compelling.

    Let me ask you this... did you think that release as a whole was as strong as it could be?
    Charles LaRocca
    SiriusBuzz Founder

  7. #7
    relmor2003 is offline
    Mentor
    relmor2003's Avatar
    Joined: Oct 2008 Posts: 1,937
    Quote Originally Posted by clueless View Post
    Huh? That is their job man. Even if they don't really know first hand, it is their job to get the info painted in the best picture possible.
    Then I would say its not a movie for market experts. No huge news in the movie. The PR for the audience is fine then.

  8. Ad Fairy Senior Member

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •