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I’ve been watching Sirius stock for a while now. I own a handful of shares; and over the last few months I’ve been waiting for some kind of firm indication of the direction the company is headed. I’ve been watching the value of their stock waiting for the decline to stop. When it fell to 48 cents I bought some shares because I figured the stock couldn’t get much cheaper than that. Advance to now and a share of Sirius XM radio stock is worth $0.12 cents. I’ve been reading headlines that the company will be filing bankruptcy. With stock shares at twelve cents it seems unlikely that the company can be saved. Oddly enough though they continue to launch stuff over there. I definitely don’t get that. They are carrying on as if there’s still a company to run.

So should you buy the stock? Can you even buy it if you were to decide what the heck? You could probably collect enough pennies off the street to buy a few shares; but even so I wouldn’t waste my pennies. There’s nothing to suggest hope of it turning around.

Update: I’ve just read that shareholders have approved a reverse stock split. Guess I neglected to put in my vote. A reverse stock split will lift the stock value (that’s the hope) but it will also reduce the shares I own from 100 to about 1. That means if the share price grows to $5, just to use a random figure, instead of having shares worth roughly $500, I’ll have shares worth $5 or even less if I’m correctly understanding that it might be a 1:50 split. I’ll have a fraction of a share. This warrants an expletive but I’ll just sigh instead and call that another loss.