Mel Karmazin's Bad Week: Sirius Trading Below $1 (SIRI)

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.

See Also:
Mel Karmazin: Regular Radio An Even Worse Investment Than Sirius
Sirius: Satellite Radio Subscriber Growth To Crater In 2009
Will Apple’s iPhone Save Sirius XM? No.

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