In addition to my current short list of AMZN, YHOO and EBAY I shorted some shares of SIRIUS (SIRI). Any thoughts on this company? Though not a dot com burning out, this company seems like it makes a pretty useless product. Am I crazy to think that nobody is going want to buy a special radio that requires a monthly fee to listen to?
Sirius Radio is losing money, but has lots of financing:3/8/01 Sirius Draws $150 Million Credit Facility 2/28/01 Sirius Closes $230 Million Financing 2/23/01 Sirius Announces $210 Million Financing And big companies are lining up to build AM/FM/SAT radios:From the www.siriusradio.com website:3-band (AM/FM/SAT) radios are being developed by leading consumer electronics manufacturers, including Alpine, Clarion, Jensen, Kenwood, Panasonic, and Visteon.Many car manufacturers are lining up too. A sat radio will become standard and an available option in many new cars. $10 a month for commericial free radio. Sounds like the early days of cable TV. People said, "Who is going to pay for cable when you can get it free?" Just millions of people.Sirius' financials look like any upstart, no PE, debt, etc. But they are building a satellite network.I do not have a long commute, but I would pay $10 a month for 100 stations of commercial free radio. (I heard today on the radio in the car that the average working male is in the car 81 minutes each day). While Sirius looks bad now, it is a company that hasn't had a chance to rise yet, unlike the other you mentioned such as YHOO, AMZN and eBAY.If you do short this one, be ready to cover quickly just in case they roll out a winner.my 2 cents worthbygrace
>>Sirius' financials look like any upstart, no PE, debt, etc. But they are building a satellite network....If you do short this one, be ready to cover quickly just in case they roll out a winner.<<Thanks for another perspective. That's some sound advice. I think it would be best to cover now, take my profits and head for another dot com spiraling downward. Though they are getting harder to find. (Though I did find HITS earlier this week and shorted it the day before it tanked.)
I wouldn't pay to listen to the radio, but I don't pay to watch television either.
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