I'm going to buying the hell out of this stock in just a few weeks. Sirius, I think, will be the first satellite radio company to turn a profit. Hopefully by the end of next year you will see their debt levels go down some.
What a great way to ease into the holiday this week, Sirius (SIRI) began to move early this afternoon after an announcement by Hertz that they would be adding more exclusive benefits for AAA members that included a discount on Sirius Satellite Radio. As of this post, shares are up 37 cents to 4.37 a share, or up 9.32% on the day.
I generally don’t comment on individual stocks but this instance is a bit different. I have been accumulating shares of SIRI over the last few weeks in my Roth IRA and I have an average purchase price of 4.07. The reason this has a place in my portfolio is simply that I am a big fan of satellite radio and believe long-term it is going to be a major player in how we listen to music. Sirius has continued to meet or beat expectations this year yet the stock has been pulled down by XM’s troubles. From a technical perspective, it looks to have bottomed out over the past few months. From a fundamental perspective, it is still a relatively new technology and service, but the numbers have been good. New subscribers are being added at a faster than projected rate and subscriber acquisition costs will continue to decrease as the technology becomes cheaper.
I look forward to enjoying many more years of listening to our Sirius radios and I hope their growth as a company continues to fuel returns in my portfolio.
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About the Author: Jeremy Vohwinkle is a Chartered Retirement Planning Counselor® and spent a few years working as a financial planner. Today, he helps people make the most of their money by writing about personal finance here and elsewhere on the web. Jeremy is also Coach at Adaptu and a regular contributor for other publications such as Intuit, and American Express. Be sure to follow Jeremy on Twitter or Google+.