Wienkes Hobbles Sirius XM
It seems that whenever something good starts to happen for Sirius XM Radio, that Goldman Sach’s analyst Mark Wienkes is there to cast doubt on the situation, and in essence, hobble the equity. After trading well yesterday, Wienkes took yet another shot at Sirius XM, that at this point reminds of a classic movie scene from Misery.
For those that for some reason may not have seen the movie, the premise is that author Paul Sheldon (played by James Caan), is “rescued” from an accident by Annie who turns out to be a crazed fan (played by Kathy Bates). After bringing Sheldon back to health, Annie will not let him go, and stops at nothing to limit the progress of his health. Every time Sheldon appears to be gaining strength, Annie does something to break his will. At one point she even “hobbles” Sheldon by breaking his ankles in a manner that can only be described as gruesome. The video is not for the feint of heart, but then again, neither is the current stock price of Sirius XM Radio.
In his latest report, Wienkes moved his price target down to .25 cents, and lowered subscriber as well as revenue estimates for the company. Wienkes still sees the debt refinancing as a major issue.
Is Wienkes hobbling Sirius XM? For many it certainly seems to be the case. The timing of reports issued by the analyst has more than a few people wondering if there is some sort of agenda. Each investor will have to arrive at their own conclusion, but there is little doubt that the latest report issued by Wienkes has had an impact on the stock price.
I wanted to compliment Tyler on a solid article. Very timely and right on the money.
SXM. I bought back in just like you. And think we are in a good place.
Weinkes has one more bullet. And we all know what that is, BK. Stay tuned for him to utilize that for one last round of beating up on the .36 cent stock.
Only Mel can make decisions that change this stocks legacy. He’s about 0 for 3 in the past few months.
We’ll see if he can come up with something to offset this nightmare.
You know. I look at my balance sometimes. And wonder how in the hell did a guy my age, who’ been doing this for almost thirty years, get caught up in an investment like this. And I feel ashamed. I really do.
Did I trust to much. Did the love of the product out weigh the realities of the financials?
Looking back I have this addiction to this siri ticker symbol and it’s done nothing but beat my ass with a whipping stick ever since.
And when I get out, I get back in. Shoot me now. Later.
SoCal…what is your prediction for the pps in the next several days…up or down?
If this is not conflict of interest I know what is. GS is the holder of debts and also wants to replace the existing ones!!!! What’s the best way to force your way in? Keep putting pressure on the stock price using your own guy — it’s crazy but I don’t think it’s legal and till somebody starts an investigation, we won’t be able to prove how badly GS is screwing the SIRI shareholders.
Having said that, Mel needs to come out swinging Wednesday with at least the announcement of the earnings release date and then do whatever he can to back up his claim about Wienkes working for short sellers. Come on Mel, start swinging. NOW.
Hey Sirius Hope.
It’s still October. So even after todays rally the shorts will keep making comebacks.
So we go sideways in a /30’s range, imho.
But come November, after the election. I expect the shorts to stay away for a while until February.
Then we have a chance……………
Howard can’t save Mel this time. He’s going to have to find another rabbit.
LVLT up 22% the past two days. We moved with them the day before Weinkes article. So, he knew the shorts were out covering and he made sure that they could hold off covering on Sirius.
Friggen, is it coincidence or a conspiracy? It’s a strange world, but you gotta believe that he simply hates Mel. But then again that sounds very convenient……………..
We should be trading around .46 – .50 without his article.
SoCal…
will his article bring us down to his .25 prediction?
So Cal
from siri past performances if we get a positive 3Q results how much of a pop can we expect?
So Cal
If we get interest rate cut today will that help pps?
recent sec filing claims,,,
As of June 30, 2008, there were approximately 9,475 holders of record of our common stock.
Hope,
If your still on this thread.
My current take. After seeing the large increase in short positions with this stock recently. It at least gave me an explanation as to why the stock got hammered to .21.
BK is the disaster of all disasters for longs. I still say Weinkes writes one more article claiming BK imminent.
Anyway, interest rate cuts in general have little effect on siri. If they create more lending though, we could benefit from them on a refinance perspective.
And I still think the auto industry has a chance to make a comeback, with lower gas and lower interest rates.
I know your looking for the .25 again. To me after seeing the numbers on shorts, it’s all about how much confidence shorts have to continue their shorting these penny stocks.
If I was a short, I’d be looking at taking my profits and waiting out the Nov-Feb window. Then get back to shorting ways again.
Did you see that pop in lvlt today. Look we can get the same pop on covering. The debt issue just gives the shorts the negative press they love to keep shorting the life out of this stock.
Mel, could fix it. But either is unable to as yet. Or is waiting for the right time. He can’t be as big an idiot as he’s looking right now.
So Weinke’s kept our price down for a while. If I was Mel every time I read a Weinkes article I’d give three more positive interviews and see if Weinkes writes another negative article each time. If he (Weinkes) continued to single out my company, I would have my attorneys stick a lawsuit up his ass as far as you can legally shove it.
Which to a Proctologist is pretty damn far. Mel may be one of those passive aggressive types. He may be more pissed than we’ll ever know, and just wants to get even and spends his time planning how to get even.
3rd quarter results and Mel’s take on the RS and dilution will have a HUGE impact on the stock.
So we appear in a range. A fucking low range I might add.
However, you could get 1.0 as easily as you could get .25.
Good luck Hope.
SiriusHope
We could only wish for a positive 3Q result. Merger costs, legal, parole reduction costs, historically bad sub adds in the 3rd quarter and a confusing quarter of metrics to understand will leave a lot for analysts to spin. This 3rd Quarter has the two companies operating separately and then merged, the metrics will not be easy to assess YOY.
I think Weinkes timing is because he knows the numbers aren’t going to be good like most of us. Most the stock price reflects this already. The rest is the unresolved debt issues, the Proxy Statement with Share Dilution and Reverse Split implications. I can’t remember a company that I have invested in or researched, having so much shit in its way around every corner. I also think that what you asked about a low stock price and shares being used to by back the 127M of GS converts makes a lot of sense. I don’t see with all of this silence so late after the quarters end how the 3rd quarter conference call and news release is going to be good
Thanks COS and SoCAl for your responses…much appreciated opinions.