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  1. jord3t is offline
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    Joined: Oct 2008 Posts: 5
    10-28-2008, 01:20 PM #1

    Tanked SIRI stock: Conspiracy or Bad Luck?

    I signed up for the savesirius e-mail list, and have been getting a lot of e-mails, but I'm not seeing any solid evidence about illegal activities by executives.

    I also see no concrete evidence that anything is happening that gives me any hope that there is a possibility of a legitimate lawsuit being filed. I see a lot of "call this number and complain" or "I called these guys and threatened legal action"

    The radio show interview was very compelling, but I'm not seeing any substance backing up all the talk.

    I'd love to believe that the tanked stock is a result of manipulation and there's a way for me to recoup my loss. But it's also possible that It's just reallly bad luck.

    Please let me know what you think? I'd like to know what the consensus is among Sirius investors.

  2. winagain35 is offline
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    Joined: Jun 2008 Location: Denver, CO Posts: 190
    10-28-2008, 01:40 PM #2
    The only "conspiracy" that is keeping the stock price down is that Goldman Sachs is trying to pressure Mel into another convert in February.

    Don't believe the conspiracy that Mel is intentionally manipulating the price so that he can take the company private on the cheap.

  3. SiriusHope is offline
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    Joined: Oct 2008 Location: Las Vegas Posts: 515
    10-28-2008, 01:50 PM #3
    The SCUMBAG wienkes is spreading the cancer AGAIN...

    Analyst reduces financial forecasts for Sirius
    Tuesday October 28, 1:18 pm ET
    Analyst lowers Sirius' subscriber, cash flow estimates and price target

    PHILADELPHIA (AP) -- Shares of Sirius XM Radio Inc. fell on Tuesday after an analyst reduced his subscriber and cash flow forecasts for the satellite radio provider and maintained a "Sell" recommendation on the stock.

    Goldman Sachs analyst Mark Wienkes also cut his six-month price target in half to 25 cents. In afternoon trading, Sirius fell 5 cents, or 13 percent, to 33 cents. The stock has traded between 22 cents and $3.94 over the past year, and has lost 87 percent of its value since January.

    Wienkes believes the company will reduce or miss its subscriber projections as demand erodes.

    He also noted that Sirius' revenue isn't enough to cover operating and capital expenses, leading to negative free cash flow while the company continues to be dependent upon outside financing in a tight credit market.

    The analyst said shareholders are facing dilution of their holdings due to higher interest charges or issuance of new shares. Sirius recently gave debt holders 67 million shares to retire $30 million of $300 million in convertible debt -- and it could do it again.

    Sirius faces $1.1 billion in debt coming due next year. The company is seeking to save $425 million in 2009 from its July merger with XM and trim its debt burden to reach profitability.

    Another shareholders comments.....Maybe just another rumor?

    Guess who has a Siri buy order in at $0.28, after their new
    target of $0.25?...The sorry bastards at Goldman!

    What the Hell is the SEC doing? What the Hell does it take to
    get an investigation into their blatant manipulation. They are
    obviously entertwined with countless politicians. Goldman was
    a major player in the mortgage melt-down and the Fed's are handing
    them money hand-over-fist.

    It's a sad and disgusting situation.

    Write your Senators and Congressman...

    I sent mine this email...

    Dear Sir,

    I am a "small investor". After a substantial rally in SiriusXm Radio(SIRI) stock yesterday,Goldman Sachs analyst Mark Wienkes issued a "sell" rating on this stock today. The result was a drop in the stock price from 42 cents to 31 cents. The timing of this analyst report immediately after a rise of 40% in SIRI stock is EXTREMELY SUSPICIOUS to me seeing as Goldman holds convertibles of SIRI stock.

    It would seem that after yesterday's sharp rise, investors who had significant short positions would face heavy losses, should yesterday's rally continue.Mr Mark Wienkes analysis could be coincidence, but logic dictates it was to support Goldman Sachs's or their clients short position.

    Please investigate the timing of Wienkes past "releases" and if indicated ARREST and INDICT and CONVICT these people for market manipulation. Market manipulation will only stop when the penalty is SEVERE.

    The fact that taxpayer dollars are being used to prop up these institutions is and insult to law abiding citizens.

    Thank you in advance for ANY HELP.
    Last edited by SiriusBuzz; 10-29-2008 at 05:34 PM. Reason: Triple posting

  4. J56D is offline
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    Joined: Jul 2008 Posts: 173
    10-28-2008, 06:35 PM #4
    How many times have we seen negative commentary or down grades?

    How many times have we seen or heard anything from company management coming out to defend the company or stock price?

    Mel at the Merrill Lynch 2008 Media Fall Preview or on cramer really helped didn't it.

    I rest my case.

    It is my opinion that the Sirius Management team is either in cahoots with "whoever" to take this company down, or that they are grossly incompetent.
    Last edited by J56D; 10-28-2008 at 06:48 PM.

  5. Shawn is offline
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    Joined: Oct 2008 Posts: 9
    10-28-2008, 08:49 PM #5

    Email SEC

    I emailed a complaint to the SEC concerning Goldman Sachs and their obvious manipulation of the stock price for their own gain. What good it will do we can only guess. But if more people adamantly complain, Sirius stock may have some downward pressure taken off it.