Friday, September 26, 2008
Sirius for a $1.
So the newly combined XM Satellite Radio (XMSR) and Sirius (SIRI) shares are trading for around a $1. I don't know what the market expected from the new company but it appears they are waiting for the company to get rid of all their debt. The debt will be refinanced and the company will save money by combining companies. Less money will be spent on marketing against each others. I think the shares will bounce back and will double if not more within the next couple of years.