Due to its low price and lack of interest now, this one now “only” trades about 44 million shares per day.

-JON OGG

Douglas A. McIntyre

September 9, 2008

Shares are up 3% at the open at $1.37 on almost 1.5 million shares at the bell.

Jon C. Ogg
August 11, 2008

But one thing that wasn’t known was that Karmazin was coming on FOX BUSINESS NEWS to explain his purchases and some opinions on Sirius and the industry.  If you take Karmazin at face value in the FOX interview, it sounds like you have the reasons as to why the stock has recovered so much.

Below are some quotes from the Mel Karmazin FOX BUSINESS NEWS interview around 6PM this evening.

On personally buying stock in the company:

• “You should assume in the very near future that I will be in the market buying stock.”
• “I’ve always been a believer in having skin in the game.”
• “As soon as the lawyers give me permission, you should assume I’m buying stock.”

On the process of getting the merger approved:

• “At the end of the day we got the merger approved, and good things are worth waiting for.”
• “I never thought it would take that long.”

On if it’s feasible to argue that under a Democratic administration the merger wouldn’t have happened:

• “It’s feasible in that I wouldn’t know who the three Democrats would be in a Democratic administration, but all I can tell is that this deal although painful got done because of the three Republicans saw the benefits of the merger even with some voluntary conditions we agreed to.”

On the goal of the merger from his perspective:

• “Our goal is about getting more subscribers.”

For whatever it is worth, Karmazin must have had a much better game face on than the last interview he was on.  Shares had put in a new 52-week low close today but they are back up to where shares are up about 7% in after-hours to $1.49.  That may still be a small victory, but it’s better than where it was before.  Sirius didn’t double its volume after the close, but shares did spike twice on two variations of the same news.

Jon C. Ogg
August 4, 2008

So far at 8:57 AM EST we have seen SIRI trade up by almost 1% on almost 2.4 million shares.  We have also seen XMSR up over 5% at $9.77 and we’ve seen more than 425,000 shares trade hands there.

Today’s intra-day price action may see sudden swings up or down based upon analyst calls more than on the merger news.

Jon Ogg

July 28, 2008

As of 2″25 PM EST XM shares are up a sharp 10% at $10.03 on almost 15,000,000 shares and Sirius shares are up over 3% at $2.46 on over 36 million shares.

Hopefully after 18 months, we’ll finally get to put this sage to bed.

Jon Ogg

July 23, 2008

XM’s underlying stock is actually down 1.5% at $8.49 on only 1.3 million shares.  It trades on average about 5.5 million shares per day.  As a reminder, 12,000 contracts is representative of 1.2 million shares on a fully leveraged basis.

It seems someone must be expecting a rapid approval of the Sirius Satellite Radio Inc. (NASDAQ: SIRI) merger or another positive development.

Jon C. Ogg
July 17, 2008

At 12: 16 PM EST we have seen over 64 million shares of Sirius Satellite trade hands and shares are down almost 12% at $2.141.  This marks a 52-week low on major volume capitulation day.  Sirius saw 71 million shares trade just on Monday and today is set up to be the most active trading since late-March when we saw over 100 million shares trade two days in a row.

52-Week Range: $2.36 to $3.94
Avg Volume:       31 million
Market Cap:        $3.22 Billion

At 12: 16 PM EST we have seen over 16 million shares of XM Satellite trade hands and shares are down 17% at $8.59.  This marks a 52-week low on major volume capitulation day.  This is the most active share volume since late-March.

52-Week Range:    $9.62 – $16.44
Avg Volume:          5,504,120
Market Cap:           $2.74 Billion

As a reminder, many traders use major volume down days as the sign of capitulation days.  The flip-side is that stocks hitting 52-week lows tend to keep hitting 52-week lows.  You make the call.

Jon Ogg
June 19, 2008

Both stocks are putting in 52-week lows right before the open this Thursday morning.

Jon C. Ogg
June 19, 2008

Sirius has seen 2 million shares trade hands and is at $2.75 already this morning after a $2.54 close Friday; average volume 29 million shares; 52-week trading range $2.36 to $3.94.

XM has already seen 190,000 shares trade with last at $11.77 after closing at $10.87 Friday;  average volume 4.2 million shares; 52-week trading range $9.62 to $16.44.

Sirius should be one of the top volume stocks today.

8:27 AM EST

Jon Ogg
June 16, 2008