Don't forget this is a Bear market... SELL THE RALLY.Originally Posted by Newman
If you have the money, trade something else, it will help you recoup some of the SIRI's losses. I loaded up yesteday on FRPT after it lost 10% as my speculative play and some DOW 30 stocks . Will sell Wednesday or Thursday.
Last edited by Siriusowner; 01-16-2009 at 10:42 AM.
http://www.fool.com/investing/genera...ock-moves.aspx
This Week's 5 Smartest Stock Moves
By Rick Aristotle Munarriz
January 16, 2009
"Paying its debt to society
No one knows the daunting debt-refinancing demons that Sirius XM Radio (Nasdaq: SIRI) is facing this year better than the satellite radio provider itself. The company is once again attacking a Sirius convertible note due next month.
The satellite radio provider will shell out 100 million shares to retire $13 million in debt. Sure, that move is dilutive, but the $300 million that Sirius XM had to repay next month has now been whittled down to $174.6 million. Now it just needs to get some good news flowing to pick up the stock price, if only so it doesn't max out on its authorized stock count of 8 billion shares at crummy price points."
My question to Mel and Co. is, was, and always will be: Why not pay the debt off in CASH. Yes, you will take a temporary hit to cash on hand, but with the refi out of the way for february, the stock will jump. At that time, you could sell the same amount of shares for more money to replenish cash on hand or to go towards satisfying May or December debt. It accomplishes the exact same thing with less dilution.
I just dont understand why not...
SIRI closed @ .1125................sucks.
Newman,
You fail to see outside the box. Mel and co. want to BK the company. All the shares that were recently exchanged have already been dumped. The answer to your question is: it is not in their plans. They are going through the motions to make you think they are working for the shareholder. It is all slight of the hand and just about everyone here is falling for it.
Whatever they do. They better do it fast. Circuit City R.I.P. is scary. They could not refinance and they could not find a buyer...
Comparing SIRI to Circuit City is ridiculous. Circuit City was a crummy retailer that could not compete with it's largest rival, Best Buy, at all....
The 2 largest competitors in the sat rad space have now merged into the combined company, SIRI. Unlike Circuit City, it is a growing business and revenues are growing - even in this economic environment.....
Sirius XM Radio Inc.
Jan. 16, 2009 Market Close: $ 0.1125
After Hours Trade Reporting
After Hours
Last: $ .115
After Hours
High: $ .115
After Hours
Volume: 698,299
After Hours
Low: $ .1108
After Hours
Time (ET) After Hours
Price After Hours
Share Volume
18:27 $ .115 2,500
18:03 $ .114 500
18:03 $ .115 17,000
17:51 $ .1135 15,000
17:41 $ .114 16,000
17:22 $ .114 5,000
17:06 $ .114 3,000
16:58 $ .113 200
16:58 $ .114 500
16:52 $ .113 750
16:40 $ .1125 12,149
16:40 $ .112 6,300
16:34 $ .112 1,000
16:25 $ .112 17,300
16:25 $ .112 12,700
16:19 $ .112 2,700
16:04 $ .1108 585,700
S&P downgrades SIRI's credit rating again today...
http://www2.standardandpoors.com/por...,0,696862.html
http://news.prnewswire.com/DisplayRe...4956242&EDATE=
Bruce Springsteen to Guest Deejay on SIRIUS XM's E Street Radio
NEW YORK, NY UNITED STATES
NEW YORK, Jan. 16 /PRNewswire-FirstCall/ -- SIRIUS XM Radio (Nasdaq: SIRI) announced today that Bruce Springsteen will guest deejay a special on E Street Radio, the exclusive commercial-free channel dedicated to the music of Bruce Springsteen and the E Street Band. The Bruce Springsteen special will air on E Street Radio SIRIUS channel 10 and XM channel 58.
Bruce Springsteen sat down with Dave Marsh, SIRIUS XM host and music journalist, to play music hand-picked by Bruce from his personal record collection. Bruce will share how he discovered each song and what he likes about the music in his commentary. SIRIUS XM listeners will hear Bruce playing a variety of music ranging from folk songs to contemporary music including hip hop and progressive rock.
The first edition of the Bruce Springsteen guest deejay special will premiere on Monday, January 19 at 4 pm ET and will be rebroadcast on Tuesday, January 20 at 12 midnight and 8 am ET; Wednesday, January 21 at 11 am ET; Thursday, January 22 at 6 pm ET; Friday, January 23 at 4 pm ET; Saturday, January 24 at 12 midnight and 8 am ET; and Sunday, January 25 at 4 pm ET.
The second edition of Bruce's guest deejay special will premiere on Monday, January 26 at 4 pm ET and will be rebroadcast on Tuesday, January 27 at 12 midnight and 8 am ET; Wednesday, January 28 at 11 am; Thursday, January 29 at 6 pm ET; Friday, January 30 at 4 pm ET; and Saturday, January 31 at 12 midnight and 8 am ET.
E Street Radio has featured guest DJ sessions with celebrity fans including Golden Globe Award(R)-winning actor Mickey Rourke, critically-acclaimed film director Darren Aronofsky, Ed Burns, Joe Piscopo, music producer Brendan O'Brien, Steve Earle, Chris MadDog Russo, Vinnie Pastore, Wyclef Jean, Senator Bill Bradley, Mojo Nixon, Kevin Bacon, E Street Band members "Little Steven" Van Zandt, Clarence Clemons, Max Weinberg and Nils Lofgren.
E Street Radio gives SIRIUS XM listeners unprecedented access to the music of Bruce Springsteen and the E Street Band, including exclusive concert broadcasts, rare archival recordings as well as insider reports and breaking news. SIRIUS XM extended the run of E Street Radio through mid-2009. For more information, please visit www.sirius.com/estreetradio or www.xmradio.com
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