Sirius Buyout Rumors
Are not that serious… Day traders get sick and tired of all these completely false rumors. Sirius XM Satellite Radio ( Nasdaq: SIRI ) is one of the most popular stocks, which leaves it very susceptible to this sort of rumors. Because you can purchase a stock of SIRI for .36, leaves it open for anybody to get into the game and say whatever they want.
There has been some “sirius” buzz on a buyout by Apple, and Google. Why not pick the two most popular stocks to spread rumors about? Apple would have bitten already if they wanted to, but they do not want to ruin their, I-Tunes format by offering anything subscription based. Google, on the other hand, is perfectly conferable just serving the video format. Pump and dumps are very common with a penny stock. There is a reason two of the most popular stocks are picked regarding a buyout of another popular stock, just to create fake buzz.
Sirius XM (Nasdaq: SIRI)is not getting sold anytime soon, and if it does it will be bought completely by Liberty Media… who currently, can only amass 49% of the company. A potential scenario with AT&T could also be possible, but still not likely.
Sirius XM is not a bad company, and SIRI is not a bad stock. Because of the low stock price, it leaves it more susceptible to strange variances. The stock can move 10% based on a completely false rumor. As long as SIRI can stay out of bankruptcy the company will be doing fine, very soon. Sirius XM has always been a very popular stock, and will continue to be so. For a while, it was a much more popular stock for shorts than longs, but there has been a significant change lately after the stock “bottomed out”.
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