siri

[chalkeater]

2.04??????????? wow

[shanks]

Chalk

Keep an eye on this stock, (rcnc) traded on Nasdaq, my friends worked here when the stock was around 82, fell to shit a few years ago, starting to make a move the last few weeks, i think it's at 1.68. It's a cable/internet/phone, that type of company.

[savage1]

Chalkeater-it goes to show you that just like with sporting events no one know for sure.
People came up here a few weeks ago, said this stock was garbage, would go out of buisiness, xmsr was better, etc.
All I know is that I rode this thing from around $.80 to $2.00 today(I did sell part of holding today, as I don't want to get too greedy, but will buy back if,when pullbacks).
Next time, basher should not be so quick to bash;from what i understand this company has pretty much eliminated its debt and is a "sirious" threat to xmsr(no pun intended), although hopefully both companies can exist and do well.

[chris1sop]

hey. siri is now at $2.10 . bought 6000 shares at $1.40. this thing will hit $3 by the end of the week

[chalkeater]

siri and xm have a duopoly, plenty of room in this country for both business to make money when the number is limited to 2!

thanks for the tip shanks, i'll check it out.

hope some of you guys got twtc....up another .75 today. now at 6.50...bought at 2.11, up 200% and rising...knock wood. i think i predicted this thing would be a $7 stock after the war before the war began.:D

[savage1]

I hope you are right about $3 but I would be shocked if it gets to 3 by end of week;I have known to be wrong before though.

[4breakout]

It was I who said the company would go out of business because of their crushing debt. I said XMSR would be able to do a secondary offering and pay down some debt(they did). The market has been so good SIRI was also able to get a convertible and a recapitalization done, which they will use to pay down debt.

A secondary is them basically printing more shares. You can't print if nobody buys, but since the market has been hot, people bought. There hase been 2-3 major convertible closed end bond fund offerings as well as tons of money piling into the convertible market this past month, I would say well over 2 Billion. Those fund managers need to spend every penny and keep essentially no cash. Two major deals done are symbol JPC(Nuveen) and CHY(Calamos). Basically anyone could have come out with a convertible deal the past 2 weeks and it would have been done.

I was wrong, I didn't think SIRI would be able to fly one, they did!

But lets be realistic the company's common is valued at over $2 Billion, they won't be cash flow positive till 2005 or 2006. The upgrade they got was from their own I Banker Bear Sterns.
They charge I believe 12.99/a month....To trade at one times revenue they would need almost 12 million subscribers, they have 68,000.

I am not here to bash or cheerlead!

I am not long nor short, Congrats to those that made a killing, I hope it continues for you, just make sure you have a chair when the music stops.

[4breakout]

When I said bankrupt I said Chapter 7 reorg, like Worldcom, Usair & United. Not ceaseing to exist, just fucking the shareholders.

[savage1]

4breakout-I appreciate your coming back and giving further insight.
I am getting a bit nervous myself with people on Raging Bull and Yahoo Chatboards screaming and yelling for stock to immediately go to $3, $4 , 10 and even higher.
This is kind of talk we had during internet bubble, and I may just sell all of mine tomorrow because many folks have lost sight of reality and all they see is this stock being the wave of the future, getting rich overnight, etc.;that kind of talk is dangerous.
I learned some painful lessons several years ago and won't let it happen again.
If i sell and it goes higher, so what;I have a good profit and I can always buyt it again or another stock.
There have been something like 5 unfilled gaps, and that also makes me nervous.
You may have been incorrect in your short term assessment but in long run you may be proven right.jmho.