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Sirius Stock

T

TheBigA

Earlier this year, Sirius stock crashed to a multi-year low when it was reported that falling new car sales had hurt Sirius subscriptions. Today, the stock shot up 42% to a multi-year high of 7.95. Nobody knows why. Apparently someone shorted the stock.

www.insideradio.com

SiriusXM Stock Hits Multiyear High As Share Price Soars 42% In Thursday Trading.

It has been a wild Thursday for SiriusXM investors as share prices in the satellite radio company have been up by more than a third in trading, pushing the stock
www.insideradio.com www.insideradio.com

I wonder if they'll now rehire the 10% of their staff that they laid off back in March. Perhaps this means something big is about to happen.
 
TheBigA said:
I wonder if they'll now rehire the 10% of their staff that they laid off back in the spring.
Click to expand...
I don't see how the stock ´price, manipulated by some unusual trading, would effect cash flow and the ability to pay a larger staff.
 
TheBigA said:
I was kidding. They will announce earnings on August 1. I wish I had bought a pile last week.
Click to expand...
OK, I get it. Incident #1,235,764 of how lack of personal contact or voice makes emotion untransmittable.
 
SiriusXM sent me an email offering me 3 free months no credit card required. It mentioned my car for some reason so either the dealership gave it them or one of the services I used did. My car doesn't have an embedded SiriusXM receiver which makes it a little odd.

I did sign up for the free trial. Do they breakout the free vs paid members on their 10-K and/or 10-Q?
 
TheBigA said:
Earlier this year, Sirius stock crashed to a multi-year low when it was reported that falling new car sales had hurt Sirius subscriptions. Today, the stock shot up 42% to a multi-year high of 7.95. Nobody knows why. Apparently someone shorted the stock.

I wonder if they'll now rehire the 10% of their staff that they laid off back in March. Perhaps this means something big is about to happen.
Click to expand...
Maybe another Reddit/Gamestop play? I'll have to go onto Reddit Stock-talk and see if anything is churning.

Having worked there, I doubt they would hire anyone back. Like most media companies, they're looking to cut their way to prosperity, not grow FTE's.
 
inari said:
SiriusXM sent me an email offering me 3 free months no credit card required. It mentioned my car for some reason so either the dealership gave it them or one of the services I used did. My car doesn't have an embedded SiriusXM receiver which makes it a little odd.

I did sign up for the free trial. Do they breakout the free vs paid members on their 10-K and/or 10-Q?
Click to expand...
It is the Dealer.
 
Here's some analysis on what happened this week with Sirius stock. It closed on Friday at 7.08, down .73.

www.insideradio.com

What’s Behind SiriusXM’s Stock Price Surge? It’s Complicated.

Investors betting against the future of SiriusXM apparently helped spike the company’s stock price on Thursday. Shares of the satellite radio company went on a wild ride, ending the session
www.insideradio.com www.insideradio.com

Still, closing over $7 is a big jump from where it was at the start of the year.
 
Second Q earnings news reported today. Revenue flat, but income is up. That may be due to the layoffs Sirius made earlier this year:

www.allaccess.com

Revenue Flat, Income Up For SiriusXM In Second Quarter 2023

Second quarter 2023 revenue was flat year-over-year at $2.25 billion but net income rose 6% to $310 million (8 cents/diluted share) for SIRIUSXM. Adjusted EBITDA grew 3% to $702 million. Subscriber revenue rose 1% to $1.7 billion, while advertising revenue fell slightly from $452 million to $445...
www.allaccess.com www.allaccess.com

That was good news for the stock, as it moved up about 70 cents.
 
I've been lurking around Reddit stock discussions, and it almost looks like SXM may have been caught up in the 'meme stocks' list with Tupperware and AMC Entertainment.
 
So today, SiriusXM parent Liberty Media proposed a merger of the two companies, with Sirius stockholders getting 1.05 shares of the new company.

radioinsight.com

Liberty Media Proposes SiriusXM Merger - RadioInsight

Liberty Media has proposed a merger with SiriusXM that would consolidate the operations of the two companies. The deal as structured would see Liberty spin-off its LSXM tracking stock that currently owns over 80% of SiriusXM and then combined with the company itself with Liberty's shareholders...
radioinsight.com radioinsight.com
 
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