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Thread: Why all the frustration

  1. #11
    john is offline
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    spanyo, To be honest it was so long ago I cant even remember, I do know it was financing of around a billion when they were at below a dollar. I also dont recall SIRI ever going bankrupt. That may have happened before the name and sympol of SIRI came to the market. I cant remember ever seeing them going bankrupt since I owned it. I do know the name has been changed twice before. That may have been the reason for the last one. Do you know if it was Chapter 11 or 13 one is bankruptcy protection and the other is being bankrupt.

  2. #12
    spanyo is offline
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    I don't know. I read it on the google message board, so I take that info with a grain of salt. He didn't specify 11 or 13. I wish Brandon or Tyler would post an article about that time. It seems like history is repeating itself somewhat. It would be useful to know about that time. And if history does repeat itself, we are going way down and then way back up. I have to force myself not to buy more now. If I can get more at 50 cents... Well let's just say that would be a good thing.
    Last edited by spanyo; 09-11-2008 at 06:51 PM.

  3. #13
    Brandon Matthews is offline
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    There will be no article from me. Sirius has NEVER filed for bankruptcy. Just consider any and all posts that refer to bankruptcy and such to be originating from the NAB.

    In 2003 they restructured the company to avoid bankruptcy and the plan worked. There is nothing further to write about.

    http://www.allbusiness.com/services/...4938882-1.html

  4. #14
    spanyo is offline
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    Thanks Brandon! Any opinion on how low the shorts can push this down without any refi news before Oct 6th.
    Last edited by spanyo; 09-11-2008 at 10:12 PM.

  5. #15
    john is offline
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    spanyo, I dont think the people that are short can even get the shares to short the stock, that ends at a PPS of 2 dollars. I believe there is something going on here. I just cant get a handle on it, as "friginreagan" has said and is true for me also, SIRI and now SIRIXM are not doing what it should be doing. The PPS is not were it should be. The metrics are clear, I believe that is what Mel is talking about when he is talking about unsophisticated investors. That they should be able to see this and stick it out. After all if they stoped selling then the PPS would not be as low as it is. They read some of the false articles out there and sell (one only has to look at the articles that came out about the financing for the merger). Those articles were mostly false about it being delutive, yet people sold on it. Look at it this way the stock is now where it was when they had almost no to none subscribers and they now do not have any direct competetion. I find it amazing thast most cant see this is a ridiculous PPS when you consider the facts. Is the financing a issue yes but enough that the PPS should be this low, no.

  6. #16
    spanyo is offline
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    Based on articles here it would seem that short interest was still quite high in the 1.30-1.50 range. Could it be naked shorting? Hedge funds? I'm certainly not sophisticated enough to know what is going on, but I am smart enough to hold on to what I have. I want to buy more, but the thought of it going down to .50 after I purchase at .95 would just be too painful. I know that no one can tell me what the price will do. Do you believe it will trade sideways or lower until the refi is announced and the new stuff comes out? I'm thinking that nothing is really go to push it up until then. This stock confounds me. I'm as logical as Spock, but logic doesn't seem to work well with this animal.

  7. #17
    john is offline
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    spanyo, That is what I was saying about it being frustrating. This has got to be one of the most confusing stocks I have dealt with. If the metrics were bad I could understand the slide but they are not. The fact is the metrics have shown that the tided turned a year ago, and that from then out it was all down hill, and with the merger they will be picking up speed. Things only will be getting better from here, yet the PPS gos down. What is funny is that the PPS today should be flipped with what they were 3 years ago. 3 years ago, I could see it being at this price (.94) and today it should be 8 dollars. That would make more sense to me.

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