Tuesday, December 05, 2006
SatRad Trader: Follow-Up
As a follow-up to my
post last night, the market players took Sirius' guidance revisions to heart and were indeed punitive. Despite a few "buy" reiterations, the downgrades carried the weight.
Over the past few months, a number of analysts had publicly expressed their disbelief regarding the 6.3 million target. This, combined with the large short position, lead me to believe that the news was already reflected in the stock price.
But alas, this issue seems to be management credibility, and their handling of investor expectations. Perhaps the presentations by Mel and David tomorrow will shed some light on this, and potential catalysts for growth. I certainly hope so.
12/05/2006 04:08:00 PM
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