NEWYORK - Sirius XM dipped below $ 2 this week, raising questions about where the stock is headed for the rest of the year.
There is no doubt that if you entered the Sirius, when its shares were selling for a penny in February 2009, you are now a happy camper. But at least in 2011, as the momentum is in stock?
Shares of satellite radio company fell about 18% of its intra-day high of 52 weeks to $ 2.44 on May 31
One concern is the potential threat of initial public offering of worms. Internet radio streaming, said last week it plans to raise 150 million U.S. dollars, but Wall Street rumors that it could produce even more.
Of course, as Pandora is a threat to Sirius is a point of debate. On the one hand, operate in two areas: Pandora for computers and wireless devices, Sirius predominantly in cars. But ultimately both the same goal: to offer users of music.
There are many others that Sirius face headwinds for the rest of the year.
The company has been on the road to recovery, partly due to the success of money for the lunch program last year, which reinvigorated sales of automobiles. But May was low for the manufacturers - not the new owners want to listen to Sirius.
Sirius is based in the automotive industry to boost subscriber growth. In the first quarter, the company added 373,064 new subscribers, bringing its total to a record level of 20.6 million.
According to the report of Bedford, blocking the NFL can also limit the potential expansion of satellite radio.
