SIRI and XMSR – ABOUT TIME FCC!
I am so very pleased that the FCC has finally approved the XM and Sirius merger. I really hope the market reacts well to the official news next week and hope to see Sirius back in the $4-$5 range very soon, but I have no idea what Monday will bring.
Thursday and Friday were down days for Sirius but I think that was just profit taking. It was on larger then normal volume and looks like some funds exited their positions. This definitely put downward pressure on the stock and the fact that the market is struggling as a whole does not help matters.
This last year has not been good one for these two companies and now that this road block has finally been cleared, I hope it is time for some good improvements. Sirius will release it subscriber numbers and Q2 earning at the end of the month. We will see and hope for the best.