12-07-2004, 08:44 PM
I have no idea. If I had any balls, I would have shorted this stock a year ago and I would have lost my shirt.
If you look at the cable companies that can expand into high speed data, local and long distance phone calls, video on demand, essentially be that "information superhighway" for all media content for every single human, their stocks trade at something like $4,000 per subscriber (for a $100 a month service)
SIRI and XMSR which are only radio and will always only be radio in a market where MP3 players are getting better and more prevalent. They are trading at roughly $20,000 per subscriber (for a $100 a year service). I just don't see why people love them so much.
They are wildly expensive and I would never own them. However, they do have all positive catalysts moving forward. You figure Xmas is going to be strong, they'll have a year of press releases about Stern moving over (possibly early), they'll have stories about what Karmazin is doing and what other superstars he's bringing over to the management team, and they're also going to be signing up exclusive content like sports telecasts, probably other guys like Limbaugh, Air America or something like that.
So despite the retarded valuation, it will probably keep going. If I owned the stock, I'd sell it the day that Stern started working there.
If you look at the cable companies that can expand into high speed data, local and long distance phone calls, video on demand, essentially be that "information superhighway" for all media content for every single human, their stocks trade at something like $4,000 per subscriber (for a $100 a month service)
SIRI and XMSR which are only radio and will always only be radio in a market where MP3 players are getting better and more prevalent. They are trading at roughly $20,000 per subscriber (for a $100 a year service). I just don't see why people love them so much.
They are wildly expensive and I would never own them. However, they do have all positive catalysts moving forward. You figure Xmas is going to be strong, they'll have a year of press releases about Stern moving over (possibly early), they'll have stories about what Karmazin is doing and what other superstars he's bringing over to the management team, and they're also going to be signing up exclusive content like sports telecasts, probably other guys like Limbaugh, Air America or something like that.
So despite the retarded valuation, it will probably keep going. If I owned the stock, I'd sell it the day that Stern started working there.