Wednesday, August 04, 2010

Sirius XM Radio – No Winning Profile

Sirius XM Radio (SIRI) increased customers given better car sales. The stock stayed solidly above the $1 @ share level. The questions are on the balance sheet. In the past six months cash dropped $150 million, accounts receivables from distributors increased $35 million, prepaid jumped a whopping $93 million, something called other long term assets jumped $48 million and long term related party debt jumped $90 million.

This is not a winning profile.

Disclosure: No position in any stocks mentioned in this post.