Karmazin: 'No Plan' To Split Stock
October 19, 2009 at 3:55 AM (PT)
SIRIUS XM CEO MEL KARMAZIN was quoted at an investor conference FRIDAY saying his company has "no plans right now" to do a reverse stock split, reports STREETINSIDER.COM. KARMAZIN was happy with the results over the last few months that the "Cash for Clunkers" program has helped provide.
KARMAZIN was also quoted by the report as saying "the company is considering activating 'idle radios' for promotions, and also said they are looking at offering a traffic information service."
SIRIUS has been trading under a dollar for 2009, and the rumors of a reverse split have been heard for most of that time. For the year, shares of SIRIUS are up more than 40% from around $0.42 on JULY 27th to near $0.60 TODAY.
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