Market Comments From TheStockMasters

Sirius (SIRI) hits a new 52-week low today, shares are now trading under $3. Haven’t we heard enough about this stock already?

Haven’t we heard enough about this stock already? Howard Stern, merging with XM, Satellite Radio is the future, Tom Lykis – blah, blah, blah. CEO Mel Karmazin has been on a wild ride with Sirius and despite the company’s faults, Mel is on a mission to get the U.S. Senate to approve the Sirius-XM Merger. Today on capital hill Mel was driving home his selling points, which include:

– The combined company will offer consumers more choice at lower prices

– The key to getting more subscribers will not be to widen the price gap between free and what satellite radio charges. Instead, it will be to offer consumers a better value.

– The merger will allow them to lower prices. Consumers who want fewer channels than currently offered will be able to select one or more packages of channels for less than $12.95 per month

Can Mel make the merger happen, will Sirius finally become profitable and when will SIRI shares finally show some value? These are all questions investors are eager to know and with a new 52-week low today, the future is looking very uncertain. Will Sirius Hold $3.00?
Jon Ogg at 247WallSt. says "right now it is all about the merger as that is becoming a do or die scenario.  Both companies need the merger to succeed"…read his take. Just imagine what the share price could do if the merger goes through? Big bucks people, no whammies.

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