EZC-Boston Posted December 8, 2004 Posted December 8, 2004 More from Reuters... Sirius falls after analyst says stock overvalued 10:57 a.m. 12/08/2004 Provided by NEW YORK, Dec 8 (Reuters) - Shares of Sirius Satellite Radio Inc. (SIRI) fell as much as 27 percent in early trading on Wednesday after an investment firm said the stock was overvalued following a rally that nearly tripled its value in the last two months. "While we remain bullish on company fundamentals, we believe the recent surge in the stock has taken Sirius to levels that are difficult to justify using any reasonable valuation framework," Smith Barney analyst Niraj Gupta said in a research note. Gupta downgraded the shares to a "sell" rating from a "hold." Sirius stock had almost tripled in the last two months after attracting attention by adding radio industry veteran Mel Karmazin as its new chief executive and revealing plans to broadcast Howard Stern's popular radio show in 2006. Wednesday's fall brought the stock back to where it was a week ago.
Stussy109 Posted December 8, 2004 Posted December 8, 2004 I know that. Trust me when I tell you that Sirius won't tank anytime soon. 151496[/snapback] SIRI down $1.65 to 7.36, an 18.1% drop... get out and take your profit with you while u can. Looks like all the institutions sold theirs with 326million shares being traded. Sell and get back in when it comes back down to 4ish.
MadBuffaloDisease Posted December 8, 2004 Posted December 8, 2004 SIRI down $1.65 to 7.36, an 18.1% drop... get out and take your profit with you while u can. Looks like all the institutions sold theirs with 326million shares being traded. Sell and get back in when it comes back down to 4ish. While Smith Barney cut Sirius from "hold" to "sell," they also raised their target price from $5.80 to $7. Currently it's hovering in the $7.50's, after being down as low as $6.58. Am I disappointed it took a big plunge and I couldn't take part in it? I'd be lying if I said "no," but I'm still up over 67% of my original investment and can't complain too much.
mvbillsfan Posted December 8, 2004 Posted December 8, 2004 While Smith Barney cut Sirius from "hold" to "sell," they also raised their target price from $5.80 to $7. Currently it's hovering in the $7.50's, after being down as low as $6.58. Am I disappointed it took a big plunge and I couldn't take part in it? I'd be lying if I said "no," but I'm still up over 67% of my original investment and can't complain too much. 152041[/snapback] I dont want to remind you but this one is going lower. Some short covering will hold it here for a while but exspect to see it at 4.50 soon. Never marry a stock!!
Alaska Darin Posted December 8, 2004 Posted December 8, 2004 While Smith Barney cut Sirius from "hold" to "sell," they also raised their target price from $5.80 to $7. Currently it's hovering in the $7.50's, after being down as low as $6.58. Am I disappointed it took a big plunge and I couldn't take part in it? I'd be lying if I said "no," but I'm still up over 67% of my original investment and can't complain too much. 152041[/snapback] Punt. Don't gleen the field. Take the meat out of the stock and move on. There will be buy in opportunities again.
mvbillsfan Posted December 8, 2004 Posted December 8, 2004 Punt. Don't gleen the field. Take the meat out of the stock and move on. There will be buy in opportunities again. 152097[/snapback] This is a trading stock. The sonner you realise this the better you will be. Dont think this offers value even at 2 billion dollars. Which would put the stock price at around $2bucks!!
DC Tom Posted December 8, 2004 Posted December 8, 2004 While Smith Barney cut Sirius from "hold" to "sell," they also raised their target price from $5.80 to $7. Currently it's hovering in the $7.50's, after being down as low as $6.58. Am I disappointed it took a big plunge and I couldn't take part in it? I'd be lying if I said "no," but I'm still up over 67% of my original investment and can't complain too much. 152041[/snapback] And while it fell, I bought a three thousand shares a 6.75, which I just turned around and sold at 7.40. Easy two grand for three hours work. And I have my original principal PLUS the profit to put into something else now. Put some back into scrap steel recycling, take a flyer on 40 January 20 Seagate calls...Bet you a dollar my out-of-the-money calls outperform your Sirius in the next two months...
stuckincincy Posted December 8, 2004 Posted December 8, 2004 And while it fell, I bought a three thousand shares a 6.75, which I just turned around and sold at 7.40. Easy two grand for three hours work. And I have my original principal PLUS the profit to put into something else now. Put some back into scrap steel recycling, take a flyer on 40 January 20 Seagate calls...Bet you a dollar my out-of-the-money calls outperform your Sirius in the next two months... 152151[/snapback] Well, I sold short against the box and nobody has exercised yet. Big deal. What do you gain by rubbing things in people's noses?
DC Tom Posted December 8, 2004 Posted December 8, 2004 Well, I sold short against the box and nobody has exercised yet. Big deal. What do you gain by rubbing things in people's noses? 152161[/snapback] First, I like laughing at idiots. Second...and more importantly...maybe, just maybe, I educate someone that investing is about making money, and not about falling in love with a stock "for better or worse". Probably not, though...the whole point of the market is to provide a place where stupid people are not only allowed but encouraged to be ripped off by smart ones.
Alaska Darin Posted December 8, 2004 Posted December 8, 2004 How ICE-like. 152189[/snapback] More like "Bizarro Ice" like.
MadBuffaloDisease Posted December 8, 2004 Posted December 8, 2004 More like "Bizarro Ice" like. With ICE it's Bledsoe. With DCTom it's stocks. Both legends in their own minds.
DC Tom Posted December 8, 2004 Posted December 8, 2004 With ICE it's Bledsoe. With DCTom it's stocks. Both legends in their own minds. 152196[/snapback] Or far more importantly, in my bank account.
stuckincincy Posted December 8, 2004 Posted December 8, 2004 First, I like laughing at idiots. Second...and more importantly...maybe, just maybe, I educate someone that investing is about making money, and not about falling in love with a stock "for better or worse". Probably not, though...the whole point of the market is to provide a place where stupid people are not only allowed but encouraged to be ripped off by smart ones. 152187[/snapback] Number of people at DC Tom's wake = 0. Local newspaper headline...Hearse Egged, Obscenities Shouted. Headline 3 Weeks later: Tombstone of Local Egomaniac Known As DC Tom Desecrated - Strong Odor of Urine Pervades Gravesite. Authorities mention "Justice Served".
HopsGuy Posted December 8, 2004 Posted December 8, 2004 Great thread. The wonderful underlying theme is that the disagreement here is exactly what makes a market.
Guffalo Posted December 8, 2004 Posted December 8, 2004 Well, I sold short against the box and nobody has exercised yet. Big deal. What do you gain by rubbing things in people's noses? 152161[/snapback] I was out on a 7.50 stop order, loved it, pulled me back from a hole from earlier in the year, was in at 2.44 out at 7.50. Moved on to LBC to take the December dividend to pay the tax on the Sirius bump.
stevestojan Posted December 8, 2004 Author Posted December 8, 2004 Number of people at DC Tom's wake = 0. Local newspaper headline...Hearse Egged, Obscenities Shouted. Headline 3 Weeks later: Tombstone of Local Egomaniac Known As DC Tom Desecrated - Strong Odor of Urine Pervades Gravesite. Authorities mention "Justice Served". 152245[/snapback] That's just wrong. If you can't take some ribbing, you're in the wrong place. DC Tom and I have battled back and forth on this board more times that BF_In_Indiana has tripped over his own feet, but today, I had no qualms about asking him for some help with something I wasn't quite sure about. In a few PMs, I feel much more comfortable with the situation. Just funny that you can't all realize that everyone's not as bad as they seem as when you give them so much ammunition to work with.
stuckincincy Posted December 8, 2004 Posted December 8, 2004 That's just wrong. If you can't take some ribbing, you're in the wrong place. DC Tom and I have battled back and forth on this board more times that BF_In_Indiana has tripped over his own feet, but today, I had no qualms about asking him for some help with something I wasn't quite sure about. In a few PMs, I feel much more comfortable with the situation. Just funny that you can't all realize that everyone's not as bad as they seem when you give them so much ammunition to work with. 152268[/snapback] Steve-O, I am sorry to report that you no longer get satire, and have become a functional Floridian. My sympathies.
Alaska Darin Posted December 8, 2004 Posted December 8, 2004 Steve-O, I am sorry to report that you no longer get satire, and have become a functional Floridian. My sympathies. 152274[/snapback] The only way to test that theory is giving him a punch card.
mead107 Posted December 8, 2004 Posted December 8, 2004 7.06 now good time to buy i think this could go to 20 or 30 dollars
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