Feel like taking a flier on satellite radio? Mel Karmazin? Howard Stern? Today’s the day.
That’s because shares in Sirius XM Satellite Radio (SIRI) are measured now in pennies, or fractions of a dollar.
Why? Karmazin gave a bearish outlook on revenue and subscriber growth for 2009 earlier this week, and Sirius XM has two hefty debt payments looming: $300 million in February and another $400 million in December 2009.
SIRI shares are down 56% since the merger with XM was approved July 25.
Business Insider Emails & Alerts
Site highlights each day to your inbox.