Sirius XM Sees Big Gain
Sirius XM stock has seen active trading today, and is posting impressive gains even as the Dow and other indicies are simply treading water. Whether the activity is shorts covering, or simply a technical bottom, longs invested in the stock are perhaps beginning to see a much needed boost in the stock price.
No, the price is not where people want it to be, but it is moving up, and seems to be doing so as if it was on a mission. Last week Karmazin appeared on Autoline and conducted an interview that lasted about half an hour. Many of Karmazin’s recent appearances have been well publicized and known about well in advance. People seemed to be waiting on every word, and if certain answers were not given, they were disappointed. Perhaps the appearance without the pre-announcement was part of what we needed.
Sirius XM should be conducting their Q3 2008 conference call within the next two weeks. this will be one of those times where everyone will begin to anticipate what will be said. In my opinion, the conference call will be a dissemination of the company performance, some very conservative guidance, and an overall stance that the company will be able to deal with the debt issue that awaits in 2009. The fact that the company has already started to deal with the February 2009 converts is an indication of movement on the issue.
So what exactly is behind the big gain for Sirius XM? At this point the answer is not known, but typically we will all find out soon enough. Depending on what is driving this action, we may have a good week in the satellite radio sector.
Position: Long SIRI
I’m sure today’s gain is due to short covering…but hey, at this point we’ll take what we can get!
I would say a technical bottom. Sirius has gotten way oversold in light of the overall market turmoil. This is simply recapitulation. The Sirius fear bubble likely popped. But where we go from here is the big question mark.
Autoline: I just wonder what the engineers are working on. This was the only point of interest of the whole interview. The auto partners know about it… but when will we???
They heard me say if I got a chance I was looking to buy more.
If they came to terms with their creditors with a fair interest rate–what would the stock look like as now all would be just looking at the earnings/growth–something usual for most companies but not this one
There was a news report this morning that “credit markets appear to be loosening.” Who knows if this is true, but this current market seems to react very strongly to “news”, even if it wrong. Also in the news this morning is that the Fed may be lowering interest rates significantly. Who knows if this, too, is true, or just analysts’ speculation.
But, in any case, hopefully investors will grasp onto a Sirius XM stock upturn and sentiment towards this stock will improve.
There is no ryhme or reason for why Siri does what it does.
We are staring down the barrel of a 50% increase in share price today based off of no news. The reason Siri is even at this level is because of the debt issue. The debt issue has caused a near daily decrease in share price.
I guess debt isn’t an issue today…well maybe it will be again tommorow becasue of another motley fool or The Street story.
Don’t try to figure this one out guys…youll only know after the fact (when it does what its going to do)
This does nothing for the shares I bought over $1…and of COURSE I didn’t buy any shares at .20 cents….BUT…it is GOOD to see it move UP for a change! 🙂
Lets hope this is signs of refinancing news to help spark interest in this stock again. We need all the help we can get since we lost many eyeballs after the merger.
This is not a big gain to anyone who has been in the stock for a while.
I need to see it move up at least $3.50 before It’s anything but break even for me.
if they go private, it’s a big FU to us longs.
Obviously this is not a huge gain, but you cannot get to $3.50 without passing .50 🙂
Hopefully this will be a sustained rally and mabye get us back into the .70’s which is a great position to be in to get over $1 on news from the 3Q CC.
As we all know, so much of investing in the market is psychology and sentiment (with all due respect to those who actually give consideration to company-specific fundamentals). I think the fact of SIRI’s Friday’s upward trend during the down market, in conjunction with this very, very strong upward movement today, may help to change sentiment somewhat. If only it continues . . .
And, just imagine if we get near a buck at some time soon and the aura of delisting starts to fade away (and with it the fear of reverse stock splits, dilution, etc.)!!!
All wishful thinking at this stage of the game, but a pleasant thought, nonetheless!
What I like about what we are seeing today, in addition to the fact of the incredible percentage of the price increase, is the fact that there does not apprear to be a great feeling of stockholders of wanting to get out. Up until a few days ago, large volumes of shares could be gotten with only hundredths of a cent price gain (if any) in the share price, indicating a great willingness to sell. Today is a different story. Good luck to all of us. May it continue!
SP is going north of .42 … and about time we got a reason to smile. Still, for jdare77’s post above, just because we don’t know the reason for it doesn’t mean there isn’t a reason and obviously there is. Ah, to be in a postion to get inside info on this stock….
I have two theories about the price jump.
1) Does this have anything to do with the Autoline interview? Anything subtle in there that kicked off some interest? Volume is still average.
2) Is Mel prepping the stock price for the 3Q conf call to defuse the rage a little. Then after the call is over he gives the green light to his henchmen to restart the shorts!
It’s disturbing we are upbeat over a .12 jump but gotta start somewhere. Fun times for anyone just getting in.
Hey Private Investor – I hope you were able to make a little on that bounce. What to do now? Do you have a clue?
I think there has been so much bad news that a 12 jump is a good thing but lets all think what it was before the merger and many of us are in around the 5 mark to break even and if some of the rumors are true, rs bankrupcy private co we all are in deep
What would be amazing if Mel got some favorable financing.
What would also be amazing is that to date I cannot find any news reagrding that issue.
If it turns out to be true, then we all know how much insider trading was going on before the general public and stockholders even knew about it.
Or is all the positive just from the the autozone interview..?
Or shorts covering because they have the inside news we don’t?
who knows..but I hope pps continues going UP
imho
I seriously doubt this move up was from the autozone interview. There is NOTHING in that interview he hasn’t repeated in his last few interviews.
Maybe people just thought it was oversold. Maybe rumors of more government money to the car companies helped…as well as the CEO of GM strongly stating that BK was NOT on the table.
Who knows.
Man, I’d LOVE the reason to be because favorable refinancing is forthcoming.
But with Sirius, I’ve pretty much had the stuffing beat out of me, so I’m no longer capable of entertaining for more than a nano second ANY hope of a miracle.
Still…I WISHI had 5 grand of disposable income right now. I’d buy in chunks over the next week and average down one last time. Then cross my fingers and toes up until the infamous shareholders meeting.
With 5 grand right now I could literally DOUBLE my shares for a fraction of the price.
Oh well….what can ya do. Maybe I’ll see what happens and throw a grand into it for ol’ times sake.
Light at the end of tunnel and light in the sky
Those moron analyst bashing OEM, do not see what I saw this weekend
Flying UNITED — all music was XM radio in the skies — how many millions tarvel a year and get free sample and advertisment ????
Took shuttle bus – C&J trailways — airport to Dover, NH — plays XM radio music all the way — and the driver said most LOGAN airport shuttle bus have either Sirius or XM
GS Weinke — it is only one monopoly — SiriusXM — you can bash the stock so low for some time, but you can not keep it down all the time
Hey amibankrupt. You are fired up!
My take. Seeing lvlt also making a very similar move today as siri. Shorts did some covering after killing both these stocks.
They are of course number one and two on the recent short list.
Soooooooooooooooooo. If history repeats itself, you would expect them to continue to move up until either good news from the company keeps shorts at bay, or……………the shorts decide it’s time for another plunge.
Me. I just want October and the election to be done with. Then I want the new haggard and tired Mel.
Which is much more to “my” liking than the tan and rested Mel, to find us some money and cheap.
Anyway, I, yes I bought a few shares today. And damn it scares me to death.
Good luck to all.