Sirius (SIRI) hit another 52-week low today at $3.06. It continues to drift down on no news. The Dow is up almost 1% to 12,714, and the Nasdaq is up even more on a percentage basis.
Oddly enough, XM (XMSR) is not near its 52-week low. It trades at $12 on a 52-week high/low of $23.56/$9.63.
The markets may view XM as the better off of the two if their planned merger does not go through. The company has more subscribers and higher revenue against a similar cost base. It may be able to generate substantial cash flow before SIRI.
XM continues to sell at 4x sales while Sirius is at 7x. It is a disparity that no longer makes sense.
Douglas A. McIntyre can be reached at [email protected]. He does not own securities in companies that he writes about.
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