Desperate times for Sirius XM
After sticking with Sirius XM (SIRI) through ups and downs, and downs, and more downs, shareholders are finally ditching the company in droves.
The stock fell by more than half Wednesday to just 6 cents a share, and there's a good reason why: The company has two options at this point, and both leave shareholders with nothing.
Customers, at least, shouldn't see interruptions in service. But prices could go up. And big names like Howard Stern could disappear as the company overhauls its contracts.
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