SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Classic TA Workplace
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Henry J Costanzo who wrote (128024)1/13/2006 10:29:24 AM
From: bcrafty  Read Replies (1) of 209892
 
mc, OT Sirius & Stern - there was a column in thestreet.com today about this issue and mentioned that the idea that Stern would immediately sell was one of "The Five Dumbest Things on Wall Street This Week."


High Rollers
Sirius insiders move the stock

2. Silver Shadow
Sirius got a shout-out from the top this week.

Yes, Howard Stern finally got his show on the air after 14 months of nonstop hype. The debut came just days after Stern scored a big hunk of stock as the New York satellite radio broadcaster hit some big subscriber targets. The company duly registered the shares so the shock jock and his underpaid agent could choose at their leisure when to sell.

This last development set off a surprisingly sharp midweek selloff in the richly valued stock. Some wags pointedly overlooked Stern's rich five-year contract with Sirius to conjecture that he'd immediately dump all 31 million shares.

This made little sense, what with the sale registration coming in the same week that the company scored a distribution deal with Rolls Royce. The luxury car maker, which sold 796 cars across the nation last year, is now giving buyers a lifetime Sirius subscription in exchange for their $300,000-plus outlay. Yet Wall Street knocked 6% off Sirius anyway.

Fortunately for Sirius bulls, to the rescue came CEO Mel Karmazin, who courageously bought a million shares of his own, boosting his own stake to 5.5 million shares and sending the stock back up.

Sirius declined to comment on the Karmazin stock buy, saying the purchase speaks for itself. But we can't help but think he'd look great in a new Rolls.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News