Sirius Satellite (SIRI) Update

I wrote a quick entry about Sirius Satellite Radio (SIRI) last November and spoke about the main reasons why I was staying away from buying the stock, even after the huge speculation placed on the company from the Howard Stern announcement. As we all know, the stock moved from $3 to $9 intraday before getting smacked back down in 2005.

Reading my original post from 11/23/04,
Sirius Satellite Radio (SIRI), you will see that I wasn’t very fond of the stock due to the fact that it was continually losing money. I specifically stated:

“You won't see SIRI on our weekly screens because of the fundamentals”

“I did not buy the stock for 2 reasons:
1. I don't buy companies that don't show a profit.
2. I currently have established positions in other stocks.”

Sirius (SIRI) closed at $6.71 on 11/23/04 and is currently trading at $6.14 at 2:15pm today (1/18/06). It reached an intraday peak of $7.98 recently but has not lived up to the hype and speculation that everyone anticipated after the $500 million signing of Howard Stern. It moved briefly from $3 to $9 on the speculation but all stocks come back to what they are worth. In this case, (SIRI) is only worth $6. Buying in late November of 2004 would currently give you a slight loss and would have your money tied up in a dead stock with a media whirlwind. I’ll skip the media speculation and continue buying companies with increasing earnings, sales and profits. If I bought (SIRI), I would have missed:
(FORD)
(HANS)
(AAPL)
and others.

I think you get the point.

Piranha