Tuesday, February 17, 2009

Sirius XM, an update

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.

 

http://icecurtain.blogspot.com

No comments:

Post a Comment