Sirius Falls As Market Move Higher
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)…
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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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.