Equities across the board are likely to see a bit of a run today as the SEC has decided to ban all financial short selling and make other potential moves to stabilize the markets. Many sectors and individual stocks have suffered at the hands of short selling and manipulation much to the frustration of investors. Complaints about stocks being manipulated have overwhelmed the SEC, and now, in the ultimate move of manipulation, the SEC has has issued a temporary ban on the ability to go short on many financial equities. This offers a trickle down effect that illustrates how the financials play a major part in investor sentiment in the overall market.
Investors seem to be taking the news well, and sending positive momentum into many stocks that have simply been hammered as a result of the pervasive negativity that surrounds the entire market like a fog.
One caution I would make is that the SEC move is temporary, and investors need to be aware that in part the reason for the surge is that the enemy of any long investor has just been taken out of the picture. When the ban is lifted, and shorts can return to action, the markets will adjust to that news again, but for now, long investors have at least something to smile about.
Was it “ALL” shorts or just financials? I was under the impression it was just the financial sector.
If it IS all stocks…and Sirius gets a nice pop….GREAT….but you’re right….it’s only a temporary ban on shorting(10 days i think).
That is why it would be GREAT if Mel could announce refinancing news within this period. Ride this positive wave up so that the perception changes on Sirius….and it’ll be HARDER for the shorts to bash us into the ground again once the short ban is lifted.
News I am reading (N.Y. Times, Bloomberg, etc.) says that moratorium on short selling is limited to “799 financial stocks”, and that the government is CONSIDERING other short selling bans. Do you have other info? (I prefer your interpretation.)
I think you are right about the importance of banks rallying, both from a psychological point (how people view Sirius XM’s chances of refinancing) and from an actual money available to lend standpoint.
As to the over-a-dollar price, let’s hope Sirius XM stock goes a little higher (and stays higher) today, so it will be a little harder for the big boys to make it go down over a buck. I am happy it is over a buck now, considering two articles to hit this morning from “The Street” which basically say categorically that Sirius XM will not be able to refinance its debt. (One can only wonder at their intentions.) I am glad these “investment” reports are not driving the stock down further. But, who knows, without these “reports” the stock might be well above its current levels. After all, there really is new product about to hit store shelves.
in the “subject” bar, cut and paste this: EXTEND THE SHORT SELLING BAN TO SIRIUS XM!
then, in the body of the email, cut and paste this:
Chairman Cox,
Sirius XM is the most-widely-held stock in the United States, and has recently fallen victim to malicious and corrupt short selling by many of the very banks you are temporarily protecting from this practice today. I strongly urge you to protect the interests of the retail stockholder in this great nation by extending the temporary ban on short selling to shares of Sirius XM. In so doing, you will send a symbolic message to all retail shareholders that they too can rely on the government in times of crisis. Thank you kindly for your consideration.
Sincerely,
then, add you name and press send. it’s that easy—-let ’em know how you feel. this is America, you have the right to be heard. If enough people send the same message, something can happen.
Thats my fear Steve. That IF Mel doesn’t announce a financing deal during this 10 day shorting ban on financials, it doesn’t bode well for the stock.
I mean WHAT kind of message would that send? That Mel couldn’t nail down a deal during this positive market period?
He always says how he hated to close the merger during the ugly state of the market. So if he can’t close the refinancing during a positive rally…I think it’ll send a VERY negative signal to wall street and the shorts to chew on.
I think it is kind of a two-edged sword. From my understanding, the Feb. money can not be paid early. Therefore, if financing were gotten now, the naysayers would cry “additional debt,” as absurd as that would be. Also, what if a rate cut were in the works from the Fed? Might financing be gotten cheaper after such a cut?
Unfortunately, I don’t think the general market fear factor will go away in the next ten days. Yes, sentiment seems, temporarily, to be better at the moment, but judging by other recent events, and other probable (known and currently unknown) “shoes to drop”, I wonder if such better sentiment will hold. I am not convinced.
Another factor that I think is important to consider. Once October 6 comes, and hopefully Sirius XM has all its ducks in a row (new radios in stores, “best of” service available, advertising, etc.), I hope stock investors and potential financial sources will see the reality of Sirius XM moving forward, as opposed to “we will” and “we project” kinds of statements.
So this means they are still shorting Siri ?
I’t looks like it on the charts.
What BS
CEO for GS whines and gets protection from shorts.
Plus to add insult they bash Siri with a four page Trash artical and Siri still gets screwed.
the banning of naked shorting is still good news for sirius……but i said it before….the ONLY thing that is REALLY going to get this stock moving up again for good is positive news on debt refinancing. its the last great unknown.
will they or wont they? until this question is answered. and that doubt removed….the shorts will still be in control….even after all this short news.
Good question! Hopefully, Sirius XM will have some great products, great offerings, and better financials as time goes by (i.e., good 4th quarter) to answer some of that nonsense.
lol of course. i dont expect the bashers to give up THAT easily.
yes….then it’ll be all about the May debt and how sirius won’t be able to refinance it. it’ll never end to a certain extent. but with each new plateau sirius reaches….it’ll get closer to the day where roles will be reversed. the shorts will be in the house of pain and the longs will be doing the gloating.
My thought is that alot of stocks are flying high today.
They bash the hell out of Siri with the trash articles. Siri shows hardly any increase in stock value. The public view would believe the trash articals leading to the public not buying shares.
It’s like a game of chess
Sirius XM urgently needs to petition to have the company added to shorting ban list!!!!!! The company has a case–FCC foot dragging, stock manipulation by HIGHLY biased pundits, and relatively overwhelming shorting apparently day after day. If any way possible, GET ON THE LIST.
What really bothers me about the manipulation is that you can not get your bid at .99 or your ask at 1.00 depending on which side of the trade you want.
So let’s say you do a market when it’s bid/ask is so tight between .99 & 1.00 – there is a risk that some market maker may match you up with a sale with a bid at .95 cents or .89, who knows ? Same scenerio on a market buy, so limit orders are amost taken off the table unless it gets a penny move past, which is so not right !
Tyler . . . sorry to be off-topic for a moment . . . wondering if you plan to rebutt theStrexxx.com (intentionally redacted) report today. It would appear frought with factual misstatements, serious errors of ommission, improper context and a complete lack of any official comment or even an attempt at official comment.
An objective rebuttal article here would direct the traffic to this site rather than to the other and would permit your readership a legitimate rebuttal forum to expose thestrxxx.xxx’s agenda without them gaining the benefit of added site traffic . . .
I agree. Supposedly GE has successfully petitioned to be added to the list, and it’s been revealed that there are several stocks on the list that have no reason being there. One I know of is some obscure biotech company and another a Nigerian Airline stock i think??!!!
They should really put a ban on ALL shorting when you think about it. Because All the shorts are going to just FLOCK to the stocks that aren’t on the list and just short them.
I think your right PM….Sirius definitely has a case. It is widely known that Sirius was one of the BIGGEST victims of the naked shorts…..and the fact that the government dragged it’s feet on the merger only adds to the dire straights Sirius stock is in now.
Just LOOK at how they are FIGHTING to keep Sirius right under a buck!!!! It’s INSANE. This stock could use a break, and although the ban on the naked shorting is good….they need to be added to the NO SHORT LIST.
If we are thinking this….you just know Mel is too. I hope he can “convince” them.
What pisses me off is that Paulson the ex Goldman guy….let Lehman go under….but soon as Goldman started crying like a baby….THEN THEY COME IN AND help Goldman. Things like this do nothing to help calm the “conspiracy” theories surrounding GS. Not one bit. And then you look at how Sirius is being held under a buck on a day like today??? It’s just too hard to ignore.
Still a lot of stocks on the fail to deliver list. Not sure how that is legal, given the new rules that say short MUST deliver or cover. Is the SEC enforcing its own new rules?
At this time, the following all show the close at exactly $1.00:
Yahoo
Schwab
CNN
Sirius.com
MarketWatch
How did this happen at the last couple of seconds, after the stock was kept under .9999 for the better part of the afternoon? Anyone got any insights? (I’m not complaining, by any means, just curious!) Also, anyone have any insights into what hitting a dollar at the close might mean both psychologically and otherwise to the stock price next week and beyond?
Again, I’m not holding my breath…but SOME positive news from Sirius over the weekend would set up for a great Monday.
I have to laugh though….talk about TYPICAL cosmic BAD TIMING for Sirius…..the “SHORT BAN” supposedly is going to END on OCT 2nd….4 days BEFORE Sirius FINALLY comes out with new radios and the BEST OF.
If there is a MASSIVE market collapse because of a FLOOD of shorts bum rushing the financials, I’m just going to laugh at the sheer CURSED luck of Sirius continuing.
They just CAN’T seem to EVER get a break. Even when GOOD things happen to them….they get hammered.
One day this madness will end.
And whats up with WORLD SPACE? It jumped 101% today on it’s GOOD news about financing.
WILL SIRIUS GET SUCH A GENEROUS BOUNCE? THEY SHOULD!!!! But heres the thing about us battle weary Sirius longs….it’s gotten to the point where we are SO BATTERED, that we just can’t say for sure!
What a day it will be when we cross this line of death and are in the clear. It can’t come soon enough.
A little voice told me to sell some Sirius the other day when it broke $1 and buy some Etrade shares. When ETrade hit the magic $2.50 I KNEW it was going to pop.
Last time it hit that low it shot up to $5….and I feel next week it will do just that again if not HIGHER with it being on the “no short list”.
Why can’t Sirius get on that damn list? God knows they DESERVE to!
Scottrade: $1 close with a .985 and a .989 bid/ask. Backed off that dollar again right after closing. Barely squeaked to the dollar close with goofy sh*t going on late. Aftermarket probably will close under a dollar.
No offence, but as Tyler has said if there were more people that wanted to buy the stock this kind of thing would not happen. While I do think everyday it stays this low the less share there are out to do this with, because people like me buy more then they would have normally. It is just a fact that even when I buy an extra 6,000 shares that really is not much when there is 3 billion shares outstanding. I do believe sooner or later the shares that are out there, if they are used to play games with, will be bought up by other people that just want to buy and hold for some time.
Tyler, I heard you say on your radio show, that you dont post on Seeking Alpha anymore. I would just like to make it clear, when I said that you sould not respond to those people at Seeking alpha, it was that you should not waste your time explainning yourself 8 times to them. Not that you should not post at all on Seeking Alpha. I also complained to Seeking Alpha about the misuse of your name.
Having the SEC halt short selling of financials the day after GS fell victim is even more evidence how crooked this system really is. Where was the SEC when Bear, Leehman, FRE, FNM was shorted to bankrupcy?. Short selling went ignored only until GS cried foul.
It doesn’t matter if we close above 1.00 today because it’s all up from here.
Heavily in debt European sat radio company WORLD SPACE just successfully refinanced a huge chunk of debt. As a result, it’s share price went up more than 100% in a day! In fact, it practically TRIPLED in two days when it went from .60 cents to $1.75!
Will Sirius, which is a MUCH better company and product get the same kind of love when they refinance? Or will the ‘Sirius Curse” continue?
I can’t believe anyone has even given $ to Worldspace to continue. That one is an absolute atrocity of a company that continues to bleed $, has no subscribers (actually going backwards) and wil likely need to relaunch all new satellites in a few years.
Man if they can get financing, then Sirius should be able to get 550 – 600 million plus cash on hand for the Feb converts & May XM debt. That will be enough to get them through to next Oct, then the Dec’09 will be easy.
I agree with Steve Sirius that we have until Feb to get a favorable loan. Mel said he would like to get it done before then of course.
Then if you stand back and look what the media did with that information, Sirius needs 300 Million” Sirius in Sirius Trouble” etc etc. Everyday the stock gets blasted by a number of news stories that are all hype.
They want people to read and click on them to get you to their website. the Street.com has to be the worse, with the Motley Fool running a close second and then all the rest.
If we have a decent 3rd and 4th quarter that may make it a lot easier for Mel to get a good loan in January. If he gets one before then great.
As far as a buy out and the company going private, as a long time stock holder I would not vote in favor of that even if the offer was $10.00 a share. Why would they offer you 3.00 to any amount unless they were confident they were going to make much more then that in the next few years.They would not be buying the company to “Save Sirius XM” They want to line their pockets, and so do we.
The light is on and at the end of the tunnel.
Let Mel excute his business plan.
He is a penny pincher, He does not over inflate his comments, and has made all the predictions so far, with the exception of the loan to aquire XM. That was disappointing to all of us, and still has us shaking our heads.
When did the subscribers numbers stop going up?
They haven’t, and they will continue to increase over the next three years.
Anyone want to sepculate on what the subscriber number and the income will be at the end of 2011? 2012? 2013?
I’d take $4 today and then put my $ elsewhere fo next 2 years, but really would be happy with 5 bucks overnight. But who would pay an enterprise value of 18 billion for the company today. It’s more likely the offers Mel is getting are in the 1.50 range.
Please do your best to keep comments interesting, to the point, and topical. Abusive, inappropriate, and blatantly self promotional posts may be edited or removed. If you have a question or an off topic comment, that is what the forums are for!
Was it “ALL” shorts or just financials? I was under the impression it was just the financial sector.
If it IS all stocks…and Sirius gets a nice pop….GREAT….but you’re right….it’s only a temporary ban on shorting(10 days i think).
That is why it would be GREAT if Mel could announce refinancing news within this period. Ride this positive wave up so that the perception changes on Sirius….and it’ll be HARDER for the shorts to bash us into the ground again once the short ban is lifted.
Tyler-
News I am reading (N.Y. Times, Bloomberg, etc.) says that moratorium on short selling is limited to “799 financial stocks”, and that the government is CONSIDERING other short selling bans. Do you have other info? (I prefer your interpretation.)
Yeah…i just checked the list on marketwatch dot com and Sirius is not on the list. They are ALL financial stocks.
Not a bad thing considering that if the banks can rally, it’ll create a better credit market for Sirius to refinance their debt?
Anyway…I’m just glad to see it above a friggin dollar for more than a minute. Hope it stays that way from here on out.
I clarified the article. Thanks for the heads up
FrigginRegan-
I think you are right about the importance of banks rallying, both from a psychological point (how people view Sirius XM’s chances of refinancing) and from an actual money available to lend standpoint.
As to the over-a-dollar price, let’s hope Sirius XM stock goes a little higher (and stays higher) today, so it will be a little harder for the big boys to make it go down over a buck. I am happy it is over a buck now, considering two articles to hit this morning from “The Street” which basically say categorically that Sirius XM will not be able to refinance its debt. (One can only wonder at their intentions.) I am glad these “investment” reports are not driving the stock down further. But, who knows, without these “reports” the stock might be well above its current levels. After all, there really is new product about to hit store shelves.
Have a great weekend!
I meant “to make it go down under a buck”, not “to make it go over a buck” in the post I just made – a Freudian slip!
contact the SEC—-easy to copy-and-paste text, subject heading, and email address provided HERE
I’ll be posting this as well on the yahoo mb and the google finance mb—-all you have to do is:
cut and paste this in the address bar: chairmanoffice@sec.gov
in the “subject” bar, cut and paste this: EXTEND THE SHORT SELLING BAN TO SIRIUS XM!
then, in the body of the email, cut and paste this:
Chairman Cox,
Sirius XM is the most-widely-held stock in the United States, and has recently fallen victim to malicious and corrupt short selling by many of the very banks you are temporarily protecting from this practice today. I strongly urge you to protect the interests of the retail stockholder in this great nation by extending the temporary ban on short selling to shares of Sirius XM. In so doing, you will send a symbolic message to all retail shareholders that they too can rely on the government in times of crisis. Thank you kindly for your consideration.
Sincerely,
then, add you name and press send. it’s that easy—-let ’em know how you feel. this is America, you have the right to be heard. If enough people send the same message, something can happen.
Thats my fear Steve. That IF Mel doesn’t announce a financing deal during this 10 day shorting ban on financials, it doesn’t bode well for the stock.
I mean WHAT kind of message would that send? That Mel couldn’t nail down a deal during this positive market period?
He always says how he hated to close the merger during the ugly state of the market. So if he can’t close the refinancing during a positive rally…I think it’ll send a VERY negative signal to wall street and the shorts to chew on.
This is my fear.
Friggin-
I think it is kind of a two-edged sword. From my understanding, the Feb. money can not be paid early. Therefore, if financing were gotten now, the naysayers would cry “additional debt,” as absurd as that would be. Also, what if a rate cut were in the works from the Fed? Might financing be gotten cheaper after such a cut?
Unfortunately, I don’t think the general market fear factor will go away in the next ten days. Yes, sentiment seems, temporarily, to be better at the moment, but judging by other recent events, and other probable (known and currently unknown) “shoes to drop”, I wonder if such better sentiment will hold. I am not convinced.
Another factor that I think is important to consider. Once October 6 comes, and hopefully Sirius XM has all its ducks in a row (new radios in stores, “best of” service available, advertising, etc.), I hope stock investors and potential financial sources will see the reality of Sirius XM moving forward, as opposed to “we will” and “we project” kinds of statements.
Have a great weekend!
So this means they are still shorting Siri ?
I’t looks like it on the charts.
What BS
CEO for GS whines and gets protection from shorts.
Plus to add insult they bash Siri with a four page Trash artical and Siri still gets screwed.
What a fucking system.
pardeon my french.
the banning of naked shorting is still good news for sirius……but i said it before….the ONLY thing that is REALLY going to get this stock moving up again for good is positive news on debt refinancing. its the last great unknown.
will they or wont they? until this question is answered. and that doubt removed….the shorts will still be in control….even after all this short news.
Tell me, if the feb debt is cleared won’t they just use the next debt due to continue the bashing?
WJDJFD-
Good question! Hopefully, Sirius XM will have some great products, great offerings, and better financials as time goes by (i.e., good 4th quarter) to answer some of that nonsense.
lol of course. i dont expect the bashers to give up THAT easily.
yes….then it’ll be all about the May debt and how sirius won’t be able to refinance it. it’ll never end to a certain extent. but with each new plateau sirius reaches….it’ll get closer to the day where roles will be reversed. the shorts will be in the house of pain and the longs will be doing the gloating.
I can’t believe what I am seeing on Etrade.
stuck at .9997,8,9 on the bid and ask and then it bouces off. Somebody is trying so hard to keep this under a buck down to the 1000th of a dollar.
I’m seeing the thing LOL I have most of my office staff watching with me. I’ts pretty sad.
By the way it’s lunch time otherwise they would be working
WJDJFD-
You think they would be working!
OOPS I’m seeing the SAME thing.
I think if it can manage to close a few cents above 1.00, then it will be able to stay out of penny hell.
My thought is that alot of stocks are flying high today.
They bash the hell out of Siri with the trash articles. Siri shows hardly any increase in stock value. The public view would believe the trash articals leading to the public not buying shares.
It’s like a game of chess
Sirius XM urgently needs to petition to have the company added to shorting ban list!!!!!! The company has a case–FCC foot dragging, stock manipulation by HIGHLY biased pundits, and relatively overwhelming shorting apparently day after day. If any way possible, GET ON THE LIST.
It is incredible and unprecedented how someone, trading through the Cincinnati Board of Trade, can continue to control this stock on 100 share trades.
What really bothers me about the manipulation is that you can not get your bid at .99 or your ask at 1.00 depending on which side of the trade you want.
So let’s say you do a market when it’s bid/ask is so tight between .99 & 1.00 – there is a risk that some market maker may match you up with a sale with a bid at .95 cents or .89, who knows ? Same scenerio on a market buy, so limit orders are amost taken off the table unless it gets a penny move past, which is so not right !
Tyler . . . sorry to be off-topic for a moment . . . wondering if you plan to rebutt theStrexxx.com (intentionally redacted) report today. It would appear frought with factual misstatements, serious errors of ommission, improper context and a complete lack of any official comment or even an attempt at official comment.
An objective rebuttal article here would direct the traffic to this site rather than to the other and would permit your readership a legitimate rebuttal forum to expose thestrxxx.xxx’s agenda without them gaining the benefit of added site traffic . . .
I agree. Supposedly GE has successfully petitioned to be added to the list, and it’s been revealed that there are several stocks on the list that have no reason being there. One I know of is some obscure biotech company and another a Nigerian Airline stock i think??!!!
They should really put a ban on ALL shorting when you think about it. Because All the shorts are going to just FLOCK to the stocks that aren’t on the list and just short them.
I think your right PM….Sirius definitely has a case. It is widely known that Sirius was one of the BIGGEST victims of the naked shorts…..and the fact that the government dragged it’s feet on the merger only adds to the dire straights Sirius stock is in now.
Just LOOK at how they are FIGHTING to keep Sirius right under a buck!!!! It’s INSANE. This stock could use a break, and although the ban on the naked shorting is good….they need to be added to the NO SHORT LIST.
If we are thinking this….you just know Mel is too. I hope he can “convince” them.
What pisses me off is that Paulson the ex Goldman guy….let Lehman go under….but soon as Goldman started crying like a baby….THEN THEY COME IN AND help Goldman. Things like this do nothing to help calm the “conspiracy” theories surrounding GS. Not one bit. And then you look at how Sirius is being held under a buck on a day like today??? It’s just too hard to ignore.
Do you think that Siri should have filed a complaint and if they haven’t WHY?
Uptick rule should be put back in place
http://www.sec.gov/complaint/c.....ec9570.htm
http://www.nasdaqtrader.com/Tr.....OThreshold
Still a lot of stocks on the fail to deliver list. Not sure how that is legal, given the new rules that say short MUST deliver or cover. Is the SEC enforcing its own new rules?
I CAN’T believe they managed to keep Sirius fractions of a penny below $1 at the close.
I HOPE one of two things happen this weekend…although I’m not holding my breath.
1) Mel gets the SEC to put Sirius on the NO SHORT LIST
2) Mel announces a great refinancing deal
Oh well…a guy can dream.
My Etrade marketcaster shows that a bid placed for 10,000 shares at .98 after 4:00 wound up getting pushed through registering as the closing price.
Alot of illegal crap going on !
Now it changed to .9948 close ?
After trading at .9999, etc., Yahoo and Schwab both show Siri closing at exactly $1.00. It seemed to happen in the last seconds.
Anyone got any other price, other than $1?
Did we really close at a buck? If so, how did the big boys let it get away from them?
Scottrade shows $1
Wait now my Etrade and Yahoo show official close of $ 1.00 so streak looks broken. If so, a small battle one !
At this time, the following all show the close at exactly $1.00:
Yahoo
Schwab
CNN
Sirius.com
MarketWatch
How did this happen at the last couple of seconds, after the stock was kept under .9999 for the better part of the afternoon? Anyone got any insights? (I’m not complaining, by any means, just curious!) Also, anyone have any insights into what hitting a dollar at the close might mean both psychologically and otherwise to the stock price next week and beyond?
YEah eTrade is showing $1 now too as the close.
Hoo-rah for small victories.
Again, I’m not holding my breath…but SOME positive news from Sirius over the weekend would set up for a great Monday.
I have to laugh though….talk about TYPICAL cosmic BAD TIMING for Sirius…..the “SHORT BAN” supposedly is going to END on OCT 2nd….4 days BEFORE Sirius FINALLY comes out with new radios and the BEST OF.
If there is a MASSIVE market collapse because of a FLOOD of shorts bum rushing the financials, I’m just going to laugh at the sheer CURSED luck of Sirius continuing.
They just CAN’T seem to EVER get a break. Even when GOOD things happen to them….they get hammered.
One day this madness will end.
And whats up with WORLD SPACE? It jumped 101% today on it’s GOOD news about financing.
WILL SIRIUS GET SUCH A GENEROUS BOUNCE? THEY SHOULD!!!! But heres the thing about us battle weary Sirius longs….it’s gotten to the point where we are SO BATTERED, that we just can’t say for sure!
What a day it will be when we cross this line of death and are in the clear. It can’t come soon enough.
Now etrade is showing .99 cents again. LOL.
ARGGGGGHHHHHH!!!!!
Has there EVER been a more LOVED product yet HATED stock?
Unbelievable.
A little voice told me to sell some Sirius the other day when it broke $1 and buy some Etrade shares. When ETrade hit the magic $2.50 I KNEW it was going to pop.
Last time it hit that low it shot up to $5….and I feel next week it will do just that again if not HIGHER with it being on the “no short list”.
Why can’t Sirius get on that damn list? God knows they DESERVE to!
Scottrade: $1 close with a .985 and a .989 bid/ask. Backed off that dollar again right after closing. Barely squeaked to the dollar close with goofy sh*t going on late. Aftermarket probably will close under a dollar.
No offence, but as Tyler has said if there were more people that wanted to buy the stock this kind of thing would not happen. While I do think everyday it stays this low the less share there are out to do this with, because people like me buy more then they would have normally. It is just a fact that even when I buy an extra 6,000 shares that really is not much when there is 3 billion shares outstanding. I do believe sooner or later the shares that are out there, if they are used to play games with, will be bought up by other people that just want to buy and hold for some time.
Tyler, I heard you say on your radio show, that you dont post on Seeking Alpha anymore. I would just like to make it clear, when I said that you sould not respond to those people at Seeking alpha, it was that you should not waste your time explainning yourself 8 times to them. Not that you should not post at all on Seeking Alpha. I also complained to Seeking Alpha about the misuse of your name.
Having the SEC halt short selling of financials the day after GS fell victim is even more evidence how crooked this system really is. Where was the SEC when Bear, Leehman, FRE, FNM was shorted to bankrupcy?. Short selling went ignored only until GS cried foul.
It doesn’t matter if we close above 1.00 today because it’s all up from here.
NASDAQ.COM has the closing price at $1.00
I believe it’s not the closing price, but the bid price at the close. Although I don’t know this as fact, I heard it from a reputable source.
As I said before, it doesn’t matter because it’s all up from here
Heavily in debt European sat radio company WORLD SPACE just successfully refinanced a huge chunk of debt. As a result, it’s share price went up more than 100% in a day! In fact, it practically TRIPLED in two days when it went from .60 cents to $1.75!
Will Sirius, which is a MUCH better company and product get the same kind of love when they refinance? Or will the ‘Sirius Curse” continue?
What do u all think?
I can’t believe anyone has even given $ to Worldspace to continue. That one is an absolute atrocity of a company that continues to bleed $, has no subscribers (actually going backwards) and wil likely need to relaunch all new satellites in a few years.
Man if they can get financing, then Sirius should be able to get 550 – 600 million plus cash on hand for the Feb converts & May XM debt. That will be enough to get them through to next Oct, then the Dec’09 will be easy.
I agree with Steve Sirius that we have until Feb to get a favorable loan. Mel said he would like to get it done before then of course.
Then if you stand back and look what the media did with that information, Sirius needs 300 Million” Sirius in Sirius Trouble” etc etc. Everyday the stock gets blasted by a number of news stories that are all hype.
They want people to read and click on them to get you to their website. the Street.com has to be the worse, with the Motley Fool running a close second and then all the rest.
If we have a decent 3rd and 4th quarter that may make it a lot easier for Mel to get a good loan in January. If he gets one before then great.
As far as a buy out and the company going private, as a long time stock holder I would not vote in favor of that even if the offer was $10.00 a share. Why would they offer you 3.00 to any amount unless they were confident they were going to make much more then that in the next few years.They would not be buying the company to “Save Sirius XM” They want to line their pockets, and so do we.
The light is on and at the end of the tunnel.
Let Mel excute his business plan.
He is a penny pincher, He does not over inflate his comments, and has made all the predictions so far, with the exception of the loan to aquire XM. That was disappointing to all of us, and still has us shaking our heads.
When did the subscribers numbers stop going up?
They haven’t, and they will continue to increase over the next three years.
Anyone want to sepculate on what the subscriber number and the income will be at the end of 2011? 2012? 2013?
Long term here.
imho
Vaporgold
With all due respect Vapor…..FUCK THAT SCENARIO!
I consider myself a die hard long. BUT…if i was offered $10 a share for my Sirius holdings….I’D TAKE IT IN A FRIGGIN HEARTBEAT!
No offense.
I’d take $4 today and then put my $ elsewhere fo next 2 years, but really would be happy with 5 bucks overnight. But who would pay an enterprise value of 18 billion for the company today. It’s more likely the offers Mel is getting are in the 1.50 range.
I’d take $4 too at this point. because i averaged down, i’d be making a profit on anything over $3….so yeah…..$4 works for me.
please God…..let it be so. lol.