After saying that it would miss year-end subscriber targets, Sirius took a big stock price hit. Over the last few days it has continued to drift down, and, at $3.79, is near its 52-week low.
And, matters have gotten worse. Research firm Sanford Bernstein cut the stock from "outperform" to "market perform".
XM has brushed off a merger with Sirius. Maybe they think they can get it at a better price later.
Sirius has not gotten much credit for announcing that it will launch a live TV system for cars next year.
Unfortunately, Sirius has had very little to say to combat the perception that things are going badly. Ther is some concern that earnings for the last quarter of the year will also be disappoint.
If nothing else happens, Sirius could make a new low before Christmas.
Douglas A. McIntyre can be reached at [email protected]. He does not own securities in companies that he writes about.
Sponsored: Want to Retire Early? Here’s a Great First Step
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
