Sirius XM Faces Nasdaq De-listing
on 03.18.2010
     
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Sirius XM intends to fight possible de-listing by the market on which its stock is traded.

To remain on the Nasdaq Global Select Market, a company's stock price must remain at or above $1 for a stipulated period. The satcaster received a letter Monday warning that the company has not complied with that rule. The price range for the past year is 22 cents to $1.18.

Sirius said it will ask for a hearing before a listing qualifications panel and seek continued listing pending its return to compliance.

"Sirius XM is one of the most liquid securities on The Nasdaq Global Select Market. We are committed to remaining listed," stated Sirius XM CEO Mel Karmazin.

Nasdaq announced that the company's common stock will be added to the Nasdaq Q-50 Index on March 22. The Q-50 Index tracks the performance of the 50 securities that are next in line to replace the securities currently included in the Nasdaq-100 Index.

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Comment List:
Maybe they should improve their programming and technical quality...
By James Johnson on 3/19/2010
The quality of their programming has taken a dive...playing the same music over and over(sounding more and more like a local Clear Channel radio station), letting go some of their best announcers(replacing with cheap fly by nights), increasing subion rates, poor over-seas customer service...etc, etc. I suspect this is a result of trying to save too much money. As a subscriber, I too, am thinking of ping my subion, which expires in June.
By Anonymous on 3/19/2010
You should have purchased their stock a few years ago! I did at $4.84 and now it is worth pennies...I hate them. The smart "shock jock" sold his shares right after he got them. I figure to lose my money. Everything is going IP anyway. Radio is quickly becoming an antique. With the big broadband push even television is going away.
By Anonymous on 3/19/2010
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