In February of this year the outlook for Sirius XM satellite Radio seemed to be best explained in one word: bankruptcy. The stock was trading at an unimaginable 5 cents per share on the news. Investors and subscribers were preparing for total annihilation. But in an 11th hour rescue by John Malone of Liberty Media, the Sirius XM ship began to shift directions. Now, only 10 months later, Reuters reports “Holiday sales are on target” and the company recently announced Q3 earnings were the first glimpse at profitability for the ailing satellite radio company.
