My worst stock for 2009 is the equivalent of shooting fish in a barrel, except that the barrel's been drained and the fish have stopped flopping.
For me, "worst" translates to "uncomfortably likely to go to zero." That's where I expect Sirius XM Radio (Nasdaq: SIRI ) to find itself in 2009, through one of two routes. Either its cash burn, and the impossibility of meeting its massive immediate debt obligations, will push it into the embrace of bankruptcy, or it will dilute existing shareholders into oblivion if by some miracle it persuades its creditors to accept increasingly worthless stock in lieu of actually paying them back.
Satellite radio: simply not necessary Satellite radio competes for my ears with my Apple (Nasdaq: AAPL ) iPod and its dedicated car jack, my custom-burned CDs, and a host of new mobile applications, including Ford (NYSE: F ) and Microsoft's (NYSE: MSFT ) Sync. And with other automakers experimenting with putting routers in their cars that could stream free Internet radio, Sirius' competition for luxury dollars is increasing.
From .08 in 2009 and now its trading at over $3 a share in 2014 with the same share structure.
Listen to others and sell MYEC if you want too. These bashers and soft bashers base everything on today and have NOIDEA what the future holds.
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