BF_in_Indiana Posted December 15, 2004 Share Posted December 15, 2004 I've noticed it's dropped the last two days. What are the reasons for this? I know a few have stock in it here, just wondering. I would assume it should be up and up and up with the recent good news they have had. Link to comment Share on other sites More sharing options...
nodnarb Posted December 15, 2004 Share Posted December 15, 2004 why? because stocks go down. and they go up. sirius seems like the kind of stock that you buy now, forget you have it, and come back and look at it 5 years from now. try to track that daily and you'll get an ulcer. Link to comment Share on other sites More sharing options...
DC Tom Posted December 15, 2004 Share Posted December 15, 2004 Because it's overpriced in relation to the company's value, and because the rally of the past few months was driven by traders, not long-term investors. Now that the traders are losing interest, there's not enough buyers for the overall supply, so its being driven down. Link to comment Share on other sites More sharing options...
todd Posted December 15, 2004 Share Posted December 15, 2004 I've noticed it's dropped the last two days. What are the reasons for this? I know a few have stock in it here, just wondering. I would assume it should be up and up and up with the recent good news they have had. 161903[/snapback] Put it this way - if people are talking about it on a football message board, it's way past it's prime buying time. By the time knowledge of a good stock gets here, it's been overbought by everyone and it's too late to get involved. Link to comment Share on other sites More sharing options...
stuckincincy Posted December 15, 2004 Share Posted December 15, 2004 why? because stocks go down. and they go up. sirius seems like the kind of stock that you buy now, forget you have it, and come back and look at it 5 years from now. try to track that daily and you'll get an ulcer. 161907[/snapback] They were close to 70 bucks in early 2000 in the Clinton see-no-evil days. I can imagine how those owners feel now. There's a huge amount of outstanding shares now - over a billion, I think, on well less than a 100 million income stream. I believe the term is "overleveraged". Link to comment Share on other sites More sharing options...
stevestojan Posted December 15, 2004 Share Posted December 15, 2004 Put it this way - if people are talking about it on a football message board, it's way past it's prime buying time. By the time knowledge of a good stock gets here, it's been overbought by everyone and it's too late to get involved. 161924[/snapback] 100% absolutly not true. I bought the day i heard Howard make his announcement at $3.71. Then they announced their new CEO. It went into the $5.00 range. Would have been a GREAT buy then and TONS of people were talking about it, even back at $4. Then, then MLB or NBA made an announcement. Went up. Then Toyota. So, one had WEEKS to get on this train. Link to comment Share on other sites More sharing options...
DC Tom Posted December 15, 2004 Share Posted December 15, 2004 100% absolutly not true. I bought the day i heard Howard make his announcement at $3.71. Then they announced their new CEO. It went into the $5.00 range. Would have been a GREAT buy then and TONS of people were talking about it, even back at $4. Then, then MLB or NBA made an announcement. Went up. Then Toyota. So, one had WEEKS to get on this train. 161935[/snapback] Getting on the train is easy. It's getting off the train that determines whether you make money or not. Link to comment Share on other sites More sharing options...
HopsGuy Posted December 15, 2004 Share Posted December 15, 2004 I've noticed it's dropped the last two days. What are the reasons for this? I know a few have stock in it here, just wondering. I would assume it should be up and up and up with the recent good news they have had. 161903[/snapback] Because the sellers are more aggressive than the buyers. It's really just that simple. The rest is just noise. Link to comment Share on other sites More sharing options...
stevestojan Posted December 15, 2004 Share Posted December 15, 2004 Getting on the train is easy. It's getting off the train that determines whether you make money or not. 161940[/snapback] Right, but what I mean is that the programmer at work here that I was telling you about who bought at $2.25, if he sells now, he made money (he actually sold 2,000 or so shares at $7.75 I believe). Anyway, I bought at $3.71. If I sell now, I profit. The guy who bought at $4 a day or two after Howard's announcement: if he sells now, profit. The guys who bought at $5.50 after the CEO announcement, etc, etc, etc... Link to comment Share on other sites More sharing options...
stuckincincy Posted December 15, 2004 Share Posted December 15, 2004 Getting on the train is easy. It's getting off the train that determines whether you make money or not. 161940[/snapback] There are not enough baseball bats in the world to hammer home that plain concept. Link to comment Share on other sites More sharing options...
stevestojan Posted December 15, 2004 Share Posted December 15, 2004 There are not enough baseball bats in the world to hammer home that plain concept. 161944[/snapback] Yeah, it sucks... last week, my "profit" was alot higher than it is now... Damn... Link to comment Share on other sites More sharing options...
Guest Guest Posted December 15, 2004 Share Posted December 15, 2004 I bought at $2.63 and sold at $6.28. I did it on a gamble that momentum investors would drive the price for a short time. The stock is way overvalued. They do not yet have 1 mil subscribers. At a price of $6.00/share, the stock would be overvalued if they had 10 mil subscribers. If you have a paper profit now, you should sell. When the stock price comes down to below your purchase price, buy into it again and gain more shares. Link to comment Share on other sites More sharing options...
The Tomcat Posted December 15, 2004 Share Posted December 15, 2004 They need 20 Million subscribers JUST TO BREAK EVEN.... This stock is an accident waiting to happen.....They are so overpriced its scarey...it makes the internet stocks of the 90's look solid..... Its WAY OVERVALUED....big time....if you bought early...SELL IT!!! Take your cash or your going to go down with the Titanic.... Link to comment Share on other sites More sharing options...
MadBuffaloDisease Posted December 15, 2004 Share Posted December 15, 2004 Compared to the sell-off from last Wednesday when 2 analysts downgraded it, it's up $0.75. The past 2 days it's dropped $.39 but it also went up $.45 on Monday. I'll be interested to see where it goes from here, since they had some good news the past couple days and the stock still dropped. Link to comment Share on other sites More sharing options...
BF_in_Indiana Posted December 16, 2004 Author Share Posted December 16, 2004 So the long term prognosis is not good than? Are they gaining subscribers or no? I'm more a fan of the company in general as I see it ias a better version of subscription based radio. I have been tracking it since you guys were talking about having bought it up cheap and was wondering what the sudden drop meant. I'm not really a stock market guy. Link to comment Share on other sites More sharing options...
Spun Posted December 16, 2004 Share Posted December 16, 2004 why? because stocks go down. and they go up. sirius seems like the kind of stock that you buy now, forget you have it, and come back and look at it 5 years from now. try to track that daily and you'll get an ulcer. 161907[/snapback] I agree. With a volume of 107 million there is no one answer to why it is doing what it is doing. Some people are waiting for it to go up again so they can sell. Meanwhile, some are buying and holding for the long term. Invest smart and gamble a little less and yes, hopefully we avoid the ulcers! Link to comment Share on other sites More sharing options...
DC Tom Posted December 16, 2004 Share Posted December 16, 2004 Yeah, it sucks... last week, my "profit" was alot higher than it is now... Damn... 161947[/snapback] I'm glad you put "profit" in quotes...because right now you don't have money. You own a piece of a company. Moot in practical terms, since the stock's liquid and easily converted back to money, but important in psychological terms, as you have precisely $0.00 until you sell the stock. And even in practical terms...it's liquid now, but I told you how I watched this stock become illiquid and shed several billion dollars in a handful of minutes. It could - and eventually, with this stock, will - happen again. Which is why I said...getting in is easy. Any fool can buy a stock (and most do). Getting out, and with a profit...that's what trips most people up. Link to comment Share on other sites More sharing options...
rockpile Posted December 16, 2004 Share Posted December 16, 2004 why? because stocks go down. and they go up. sirius seems like the kind of stock that you buy now, forget you have it, and come back and look at it 5 years from now. try to track that daily and you'll get an ulcer. 161907[/snapback] Solid advice for most stocks. It's not a casino. Link to comment Share on other sites More sharing options...
stevestojan Posted December 16, 2004 Share Posted December 16, 2004 I'm glad you put "profit" in quotes...because right now you don't have money. You own a piece of a company. Moot in practical terms, since the stock's liquid and easily converted back to money, but important in psychological terms, as you have precisely $0.00 until you sell the stock. And even in practical terms...it's liquid now, but I told you how I watched this stock become illiquid and shed several billion dollars in a handful of minutes. It could - and eventually, with this stock, will - happen again. Which is why I said...getting in is easy. Any fool can buy a stock (and most do). Getting out, and with a profit...that's what trips most people up. 162058[/snapback] Tom, as much as I hate giving you credit for anything (), your little lesson you gave me several days ago is what made me put profit in quotes. Link to comment Share on other sites More sharing options...
DC Tom Posted December 16, 2004 Share Posted December 16, 2004 So the long term prognosis is not good than? Are they gaining subscribers or no? I'm more a fan of the company in general as I see it ias a better version of subscription based radio. I have been tracking it since you guys were talking about having bought it up cheap and was wondering what the sudden drop meant. I'm not really a stock market guy. 162042[/snapback] One thing you have to consider is that there's a difference between a company and it's stock. The two are related, but not the same. Sirius the company looks to have a reasonable future: some holes in their business model, but their revenue growth and balance sheet as they stand now can mask a lot of that. Sirius the stock is valued so that every dollar you spend on it gets you half a penny of gross revenue and far less (about a thousandth of a cent) of the company's asset value. So what you really have to ask yourself, looking at the stock long term, is: do you believe that paying $200 for a $1 share of their annual revenue and a half-cent (maybe) share of their liquidation value is a good deal? The sudden drop itself...simply what HopsGuy said. More people are trying to sell than trying to buy. Sirius has been heavily traded by people who trade (hold a stock for a day or less, as opposed to actual investors who might hold it for years), and eventually such stocks fall to more reasonable levels. Sometimes dramatically. Link to comment Share on other sites More sharing options...
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