Today Sirius XM (SIRI) faced the storm of the economic downturn as shares were cut in half after the company reported that they could be forced to file for bankruptcy or be acquired by another company. Sirius XM who currently have $3.3 billion i debt will have $175 million come mature by the end of the week and $1 billion coming mature by the end of the year. For Sirius the perfect storm has arrived with the struggling economy people are unwilling to shovel out money for Satellite Radio. It will be interesting to watch how the company proceeds in the next few weeks. Expect by the end of this week for them to file for Bankruptcy. All in all i would not want to own this stock. The only slight glimmer of light is a possible takeover which could send the stock soaring. If you do want to try and make a play on a possible Buy-out take extreme caution as if it fails your money will to.
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