Sirius Satellite Radio & the Stock Market
I have come to the conclusion that there is WAY more insider trading on Wall Street than EVER gets talked about. Case in point: Sirius Satellite Radio (SIRI).
Sirius has reached 3 million subscribers, has exclusivity rights to the NFL and Nascar and lest we forget, Howard Stern. So why is the stock being sold off faster than I can suck down a beer and is only a quarter of the price of XM? Insider trading.
The big boys are playing a dangerous game, and here is my theory: Howard Stern signing with Sirius single handedly boosted the company above the 3 million subscriber mark, which was to be considered a milestone for the stock... certain insiders are poo pooing the stock and the press has jumped on it, causing the casual trader to sell... all the while, the insiders are snatching up shares left and right at a deflated price... when 4Q05 and 1Q06 financials are released, the news will be rosy for Sirius... everyone buys... the insiders sell at an inflated price and make a killing.
There is no reason for this stock to be as cheap as it is when compared to it's competitor XM. Don't believe my theory? Look for yourself. Crosscheck the volume, closing prices and press releases day by day for the past few months, it's quite interesting.
Sirius has reached 3 million subscribers, has exclusivity rights to the NFL and Nascar and lest we forget, Howard Stern. So why is the stock being sold off faster than I can suck down a beer and is only a quarter of the price of XM? Insider trading.
The big boys are playing a dangerous game, and here is my theory: Howard Stern signing with Sirius single handedly boosted the company above the 3 million subscriber mark, which was to be considered a milestone for the stock... certain insiders are poo pooing the stock and the press has jumped on it, causing the casual trader to sell... all the while, the insiders are snatching up shares left and right at a deflated price... when 4Q05 and 1Q06 financials are released, the news will be rosy for Sirius... everyone buys... the insiders sell at an inflated price and make a killing.
There is no reason for this stock to be as cheap as it is when compared to it's competitor XM. Don't believe my theory? Look for yourself. Crosscheck the volume, closing prices and press releases day by day for the past few months, it's quite interesting.
posted by touring21 at 4:33 PM
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