5700 sells all at higher prices. Probably 1.00 asks. ISEG and ARCX is holding it back.They keep putting up 100 share asks in front of the real offers.Originally Posted by JohnnyIrishXM
SIRIUS XM SATELLITE RADIO FORUM
5700 sells all at higher prices. Probably 1.00 asks. ISEG and ARCX is holding it back.They keep putting up 100 share asks in front of the real offers.
Why should people be rushing to buy when 2/3's of the auto industry is
on the edge of bankruptcy? Even if there are benefits to Sirius/Xm as some have argued it justs seems logical that an unstable car industry would cause people to hesitate purchasing the stock. We have up to 60 days of uncertainty ahead of us so shouldn't that cause the price to stay close to where it is now?
Brandon,
When they bring in the new uptick rule next week, will it stop all this nonsense with the MM's?
I think the market is catching on that SIRI is now a viable company following Liberty Media cash rescue. Even with the challenges faced due to bad economy, investors know that every company, especially those with 'direct to consumer' biz models, is struggling thru this difficult, but temporary period. Once the economy starts improving, which I believe it is now, consumers will start loading up on 'stuff' once again. New cars will again become the rage as consumers have more $, banks start lending, and older cars become a burden due to repairs, etc. SIRI will emerge as a growing biz once again.
Since I dont see how this news affects Sirius other than positively, I dont think its an issue with big money. GM selling less cars is good for SiriusXM, so I really think its a non issue. If your going to buy a new car, are you NOT going to now because GM is possibly going bk? No , just buy a Ford or Honda, whatever. If Sirius money is waiting for the bailout news, then they dont understand the company, and they should buy now. News for Sirius is only going to get better. Whatever gets Sirius the opportunity to redo that contract, thats what im shooting for here.
Do you really think the auto industry is going to disappear in this country?
It would take decades to start up new car companies and be profitable.
Going bk doesn't mean they won't sell new cars to the public,so it really doesn't affect SiriusXM in the long run,just these couple of weeks,and like Brandon's article points out,it helps the bottom line with GM...
No. The market looks forward 10 - 12 months. Estimates are now being adjusted up to 14 million units from under 9 on the new plan to increase sales. That is great news for Sirius.
First of all it would be a controled bankruptcy. Some say in and out in 30 days. Even if most of the populace doesn't realize that that doesn't mean they will not buy a car. It just means they will buy one from a different OEM. I have never liked XMSRs contract with GM so as far as I am concerned the fewer cars they sell with satellite radios the better for the bottom line.
They won't be able to beat it down, but they can still sell with every uptick. Seems like they are practicing that today.
