The Battled Sirius Star SIRI
Sirius XM Radio Inc. (Nasdaq:SIRI) is struggling again. With all the good news that has come out recently about Sirius XM Radio, ( Nasdaq : Siri ) the stock has still yet to stay over 1.00 long enough to void delisting. Granted the big wigs over at Sirius XM will not let a delisting happen, and initiate some sort of drastic measure to combat it (reverse-stock split). The shorts and the longs are at it again, which is nothing new with this battered stock.
With some auto companies fading (NYSE:TM) some growing (NYSE:F) and some just removed from the free market, (GM) auto news has meant little to Sirius radio. Until the economy is completely turned around there will be uncertainty on how it will preform in the future. The biggest thing, however, that is keeping it down is short traders that have lost many of their other favorite shorts. It is incredibly easy to buy or short a stock that is hovering below 1.00, and SIRI has been no different. Sirius XM Radio offers a great service, at a great price, and is now financially somewhat sound, but it still needs to combat the enemies. Mel Karmazin needs to buy a few million more stocks, and at least one more solid earning report needs to come for SIRI to succeed, not as a company… but as a stock.