Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. HOMEPAGE

Sirius XM Shareholders Authorize Reverse Split (SIRI)

mel-karmazin-reuters-summit.jpgAs expected, Sirius XM (SIRI) shareholders have approved the reverse stock split proposed at today's shareholder meeting.

Sirius can now perform a reverse split of 10-to-1 to 50-to-1 shares any time before the end of next year. Sirius shares are trading at $0.14 today, and need to beat $1 before mid-January, or Nasdaq could de-list them.

Advertisement

This, of course, doesn't solve Sirius' bigger problem: Slowing growth -- made worse by the caving U.S. auto industry, where Sirius gets most of its new subscribers -- and increasing competition.

Media
Advertisement
Close icon Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.

Jump to

  1. Main content
  2. Search
  3. Account