Finally! With a whole slew of good news it appears Sirius is finally starting to rebound. For a while it was down below $4 a share.
With the lawsuit that XM has going and their restatement of lower numbers, it’s clear that Sirius will win the satellite radio wars… so when will they be rewarded for that with a big upshot on the stock?
I think some of the problem is that Howard Stern got a boatload of stock and he’s trying to unload it… which has resulted in the market being oversold with Sirius. Put that with my buddy Jim Cramer… who every time he mentions the word "Sirius" we see the thing go down $.20/share… and you see the recent downslide.
If they really do have a profitable 4th quarter I’m looking for the stock to get back into the $9-10 category. In fact, if I were a stock broker I’d label it a buy.
Of course, on top of that I think it’s a fabulous product.
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