I had on the record an thesis on Sirius XM. Today, the teetering company got a mortgage of $530 million from Liberty Media.
As I have expressed earlier, the business requires maybe $2 billion more to survive, under even optimistic assumptions in the whirlwind.
Anyway, the stock price gained 50% today, still showing a high probability of bankruptcy. I can cash in and buy me a life-time supply of oat meals, or I can hold on and get diluted away.
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