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Technology Stocks : Sirius Satellite Radio (SIRI) -- Ignore unavailable to you. Want to Upgrade?

To: billcasto who wrote (954)	10/9/2004 9:52:26 AM
From: rrufff	Read Replies (1) \| Respond to of 8420

Before Stern, I never thought SIRI would survive because of the already crappy balance sheet. I do believe that Stern will work and that they will get 4 million subs at least, making SIRI a winner long term or an acquisition target in the $10 range. However, I don't like it enough NOW to stay so I've traded it successfully. As we get closer to the 2006 date, I expect this to trend higher so the trades will have to reflect that.

To: billcasto who wrote (954)	10/9/2004 10:27:30 PM
From: i-node	Respond to of 8420

>> should of known that these low lifes at Sirius would do this Stern thing to run up the stock to get more cash in a secondary offering. Unfortunately, they have a long-established trend of doing this. So bad, in fact, that Xm actually made reference to it in their CC a couple quarters ago. XM was asked about something and responded that everytime Sirius announces one of these new deals they follow it up in a few days with a new secondary. It is predictable, although, I really thought they had enough money to get by without it for now -- I thought they'd put it off until next year. I believe the Q3 financials are going to be frightenly bad. It may be they wanted to capitalize on this pop in the share price before the bad news hits. In particular, if their subs are higher than expected (due to XM's stockouts as well as the peak of the NFL gains) the SACs are going to be really, really bad.