Sirius XM (SIRI) Stock at New 52-Week Low of $0.16
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Shares of Sirius XM (Nasdaq: SIRI) are getting absolutely slashed today, currently down 17% to just over $0.16. No, that's not a typo. That's right... $0.16.
Investors may be selling Sirius XM stock today as a play on the extremely concerning outlook at Detroit's Big 3 automakers. The story is unfolding on Capitol Hill today, where executives from General Motors (NYSE: GM), Ford (NYSE: F) and Chrysler are testifying to Congress. The sentiment coming out of DC is not reassuring, to say the least: shares of GM and Ford are down 15.5% and 24%, respectively, which may explain part of Sirius XM's sharp downside move today.
Since the FCC cleared the merger between Sirius and XM on July 29, Siriux XM stock has lost an astonishing 90% of its value, falling from a multi-billion dollar company to about a $500 million company. With shares of Sirius XM moving as low as $0.16 today, the stock marked a new all-time low.
Sirius XM Radio, Inc. provides satellite radio services in the United States.
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Take a chance!
I love my satellite radio, and I really can't see it going away. It just has too much to offer over commercial radio. I would rather take a chance with a rock bottom stock price than pay hefty and lose big time. I'm not afraid!
Why Sell Now?
If you've already lost 90%, why sell now? At this point I'd rather gamble and stay in it for a possible rebound than to lock in a 90% loss.
might be a good one
I had invested in siri and made really good money,from 0.3 to 0.66. and now im just itching to buy,but scared. if i really gamble my life on it,I may buy 500k to a million stocks and become a multi millionaire. I just can not see Siri go down.cant. but then reality says: bankruptcy,reverse split 1 for 50!! stay away.dang,if i could be a fortune teller.
Don't Worry Sirius Radio will go up again
I know the frustration... I bought this stock at its high about 1 year ago. I lost big and finally sold. I am investing in it again, because the stock is at an ultimate low. I think now is the time to invest in this stock again, it can only get better from here.
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get in
aurelius on Dec 18, 2008 02:18 PMJust got in at .14 .. incredible. Great opportunity here.