Sirius Satellite Radio (SIRI) Taking Off This Afternoon

Sirius Satellite Radio (SIRI) Taking Off This Afternoon

SiriusWhat 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.

Author: Jeremy Vohwinkle

My name is Jeremy Vohwinkle, and I’ve spent a number of years working in the finance industry providing financial advice to regular investors and those participating in employer-sponsored retirement plans.

Are you a dad who is not seeing your kids?

If you are a father who has lost a relationship with your children, you have come to the right place. Be sure to follow along as GenXFinance grows up into the next stage of life.


Recent Posts

It was time, GenXFinance had to eventually grow up. Now I'm helping dads who are experiencing what I have gone through.