Sirius stock? - Canadian TV, Computing and Home Theatre Forums
LinkBack Thread Tools Search this Thread Display Modes

post #1 of 2 (permalink) Old 2008-10-16, 03:05 PM Thread Starter
Join Date: Sep 2005
Location: Sherwood Park
Posts: 54
Sirius stock?

Anyone considering buying at this time? I bought in a while back when Sirius stock was approx $3.23 - hoping that it would be buoyed by the merger announcement - which it was a bit, but stalled out as the DoJ and FCC took their time. I think I sold at 3.49 and made enough to coverage fees and got $20 extra as it seemed that the stock would plunge and the merger wouldn't go thru.

Well the merger went thru and I was kicking myself for pulling out for a measley $20 profit - but as of today SIRI is trading at 0.4003USD as of 1:54pm Est. Now S&Poors is predicting a 12 month price of $2.00 which isn't huge - but being able to buy in at $.40 makes it sound like a great chance to make a decent buy in for relatively little risk (For 500.00 USD you can purchase 1177 shares online @ 0.40 USD per share incl 28.95 fees w/ RBC).

I'm currently waiting for funds to transfer into my brokerage account - anyone else considering a buy at this time? As stephen Harper said - there are some great deals to be had
johndoublej is offline  
Sponsored Links
post #2 of 2 (permalink) Old 2008-10-16, 05:37 PM
Join Date: Dec 2005
Location: Woodlands, MB
Posts: 608
I was in Sirius for a while.. I bought at 2.84 last spring a month before the department of justice gave their approval for the merger...

When the approval occurred, the stock shot up to 3.90 overnight. I didn't sell then because I figured the FCC approval would soon follow and push the stock even higher.

Boy was I wrong The FCC took over half a year to decide.. During that time, the stock slipped to 1.86, then climbed back up to 2.74.. I sold at 2.74, losing 10 cents a share.. I'm GLAD I sold at that price, because right after that it went into freefall down to the .40 cent level it sits at today.

I put little faith in the analysts.. Free stock tips are often worth exactly what you pay for them. When I bought Sirius at 2.84, the analysts were predicting over $5.00 a share..

Despite getting out of Sirius, I still keep in my list of stocks that I follow.

Sirius is in serious trouble. First off, they have never made money. They owe 3 billion dollars and this debt is going to have to be refinanced in the coming years. Despite the tough economic times, It appears that the CEO has secured financing for 300 Million of the 3 billion which takes the heat off them for the first part of 2009. But the future is still murky. They still have billions of dollars in debt that will be coming due in increments. They will have to scramble for financing each time.

I'm thinking of getting back in for the short term, but I want to see the company's third quarter report before I do. If as I suspect, the economy has eroded subscriber numbers and the earnings are lower than the previous quarter, then I don't think it would be worth buying.

FWIW, Sirius should be releasing their third quarter report in the last week of October or the first week of November. If you check now and then towards the end of the month, they will post when to expect the report. It's done in the form of a conference call.. They broadcast the call on one of the Sirius channels......
jwt873 is offline  

Quick Reply

Register Now

In order to be able to post messages on the Canadian TV, Computing and Home Theatre Forums forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Please enter a password for your user account. Note that passwords are case-sensitive.


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:


Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.

Thread Tools Search this Thread
Show Printable Version Show Printable Version
Email this Page Email this Page
Search this Thread:

Advanced Search
Display Modes
Linear Mode Linear Mode

Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

For the best viewing experience please update your browser to Google Chrome