Sirius : Big Things Expected This Week
Sirius XM Satellite Radio (NASDAQ : SIRI), the stock everybody loves to slam, may actually be worth more than that pack of gum. Sirius’ stock has always been less than stellar. Even with car sales as low as they are SIRI is looking to have a great week. Do not buy that pack of gum this week, or even that lottery ticket… buy SIRI. That does not mean that anybody should ever recommend buying a lottery ticket or even SIRI for that matter.
Sirius XM closed Friday up .03, with the major rally occurring right before the closing bell. Even though this stock is directly tied to our economy’s fate it did not stop climbing last week. SIRI is still significantly under valued due to fears of bankruptcy. Those fears are now gone, at least for this year. The Liberty Media deal gave Sirius XM a much needed lifeline, albeit an expensive one.
The company has a year to retool, which may be enough time to become a very profitable business. Sirius XM’s 4th quarter results are due out this week. The release will actually be good news, and the company should be able to now look to the future. The company will still post a loss, but It should be right below the profitability mark.
Prediction: SIRI will be above $.25 by weeks end.
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