A good day it was not for Sirius-XM. Bankruptcy rumors knocked 50% off the stock, which closed at – ehh – 6 cents.
I’m starting to realize that as much as I love the technology and all I love about it: Howard Stern, E Street Radio, Backspin, Deep Tracks, Jam On, Classic Rewind, The Bridge, Outlaw Country – that the reality is it may not have much of a future.
In the internet age, where SO MUCH is available in a few clicks, and the technology of free internet radio in the car not far away… well, how can they possibly convince more people to shell out $150 a year for satellite radio?
I hope it sticks around, and as a shareholder, I hope there isn’t a bankruptcy (and that the stock slingshots back up), but I’m not holding much hope.
Sirius XM drops 50% on reports of possible bankruptcy (CBS MarketWatch)