What is SIRI stock worth? .. and furthermore who has the balls to prove what it is worth? I started watching SIRI about 2 years ago, I bought in a month or so after the merger process was announced. I traded in and out of SIRI from the 3-4 range for months and made like 3,000 trading a 10,000 position. I was successful at doing this because SIRI stuck in a trading pattern, and more importantly i felt like it was overvalued at 3.75 or so and very undervalued at 3.00. Once it traded under 3.00 dollars I could not trade it, because I felt like every buy was a steal.
Then Goldman Sachs seemed to take a greater interest in this stock and started issusing ridiculous price targets like 2.75, 2.50 , 1.75. I thought they were all ridiculous and all very undervalued but they all kept coming true. I stopped trading the stock and just held my core position, because I felt that under 3 this was just blasphemously undervalued. Wienkes kept coming up with ridiculous reasons to downgrade the stock and quite frankly everything that he said hasn't come true. The only thing that seems to come true is his price target.
He said the merger wouldn't get approved... he said if it got approved their would be too many concessions.. he said the NAB would sue...he said SIRI would have to take out more convertibles...he lowballed earnings and revenue etc... He was wrong on everything. But regardless his price predictions came true. It seemed everyone disagreed with him drastically, but the stock price only cared about Goldman Sachs. Now he has issued a $1 stock target( why because he think everyone in America is going to go deaf so they can't listen to radio?)
This is a frieken joke. I know that SIRI is worth much more than where it currently trades and $1 is simply criminal. However I can only buy so much more stock, you can only buy so much more stock. So where does the price of this stock go? If it was up to Wienkes it would go to 0, but then between me Tyler and Brandon we could buy up the float lol.
I think that a lot of us want to hold on long term, but seriously how much pain can we take. And at what cost does this all come to us as, when does it stop, and when do we get our reward? OH and if any institutions want to buy a 100 million shares ish and hold I would appreciate it, thanks.