Movie about Sirius XM Radio Gets Top Ratings at Netflix
“Stock Shock,” an in-depth documentary movie about Sirius XM Radio and the American Stock Market, is getting good reviews as it makes its debut onto Netflix. “Stock Shock deserves an Academy Award,” says Jim Puplava of the Financial News Hour, “it’s an awakening.”
“Stock Shock” is made in the tradition of Michael Moore’s “Capitalism: A Love Story” and focuses on the once bewildered investors of the satellite radio company: Sirius XM. When Sirius Radio and XM merged in 2008, the stock seemed poised to go through the roof–well above its high of 9 dollars per share. But something went horribly wrong when the stock was allegedly targeted by aggressive hedge funds that drove the equity down to an unbelievable .05 cents per share less than one year later. The movie lays out the story and looks into naked short selling and poor SEC regulation as the main reasons for the stock’s demise.
With its stock still trading below a dollar, Sirius XM received a Nasdaq delisting notice, giving it 6 months to rectify the sub-$1 price tag. If the stock is still trading for pennies by March 2010, Sirius XM may go through with its board-approved plans for a reverse stock split.
Despite the impending reverse stock split, Sirius XM investors in continue to be optomistic. Most believe new business developments and national attention will help them avoid the dreaded reverse stock split. And now that the independent documentary “Stock Shock” is telling their story at Netflix, Best Buy, Amazon.com, and other global vendors, the sky may be the limit for this satellite company and its loyal, newly famous shareholders.
Movie Trailer at: www.stockshockmovie.com
stock shock, naked short selling, howard stern, sirius xm, sirius reverse stock split, sirius split, sandra mohr, netflix, howard stern renew contract
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