So now, with my 100 shares at around $7 total, I'm just gonna let it sit and watch it go to zero. That or wait for Charlie Ergen, head of Dish Network, to offer to buy out Sirius again (he made an offer earlier but was rebuffed). So what was the lesson we learned from this experience? Don't just buy a stock because it's cheap and you think it might have potential. Do some research, because there's a reason it's so cheap. But I must say that for a while, it looked like Sirius might pull through with the cross-platform receiver they were receiving and the life-subscription offer before the rate increase. If Ergen hadn't bought some of the debt Sirius owed, making it harder for them to refinance, they might have pulled through.
Wednesday, February 11, 2009
Well well well...what are you doing Sirius??
So now, with my 100 shares at around $7 total, I'm just gonna let it sit and watch it go to zero. That or wait for Charlie Ergen, head of Dish Network, to offer to buy out Sirius again (he made an offer earlier but was rebuffed). So what was the lesson we learned from this experience? Don't just buy a stock because it's cheap and you think it might have potential. Do some research, because there's a reason it's so cheap. But I must say that for a while, it looked like Sirius might pull through with the cross-platform receiver they were receiving and the life-subscription offer before the rate increase. If Ergen hadn't bought some of the debt Sirius owed, making it harder for them to refinance, they might have pulled through.
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