Update *** 0813 EST(XM Satellite Radio Trading Halted)07/29/2008 07:00:01 XMSR XM Satellite Radio Hldgs Cl A N T12 (Reason Code)T.12 Halt - Additional Information Requested by NASDAQTrading is halted pending receipt of additional information requested by NASDAQ. Source:http://www.nasdaqtrader.com/Trader.aspx?id=Tradehalts- J.P. Germanics
What the heck does it mean, trading halted? I'm completely confused. Can anyone better explain to a novice what is going on. Does anyone have any idea what might happened next?
When a company is acquired, trading is halted while the stock is converted into whatever the acquiring entity offered (in this case 4.6 shares of SIRI stock). It's all very normal.
Lake Effect has it right, thanks for putting it simple. I didn't mean to scare anyone. Cheers, J.P. Germanics
Hmmm. Do you know how it works exactly? If I own(ed) 100 shares of XM (let's say yesterday close was $8) and I am to receive 4.6 shares of SIRI ($1.63) for every share of XMSR -- what am I going to end up with? Did you follow that? Which price will they use?
>>what am I going to end up with? Did you follow that? Which price will they use?You will have 460 shares of SIRI selling at whatever people are willing to pay for SIRI. The XMSR share price at this point is irrelevant to what you SIRI stock is worth (it may be relevant to you and how you feel about your investment, but it doesn't factor into what you HAVE going forward.)Scott
<<The XMSR share price at this point is irrelevant to what you SIRI stock is worth>>wow. bummer. but thanks, Scott.
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