As Sirius Launches Video, Stock Hits 52-Week Low

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By Douglas A. McIntyre Published

The S&P is flat for the year. Sirius (SIRI) is not. Down about 7%, it hit a 52-week low today at $3.18. The stock actually has not been that low since 2004.

Sirius announced live rear-seat video with Chrysler (DCX). It would appear to be a popular service. Rear-seat DVD players sell well. After paying for the SIRI hardware, the first year of service is free.

Wall St. does not seem to care. The focus continues to be on the slow progress that the company is making on its proposed merger with XM (XMSR) and concerns that the company could run low on money if subscription growth slows at all. SIRI already has $1 billion in debt.

Maybe if the stock keeps falling, Chrysler can just buy the company. That is, one Chrysler is sold.

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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