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July 23, 2004 Stock Pick: Sirius Satellite Radio, Inc. (SIRI)

Stock Price: $2.50

Sirius Satellite Radio, Inc. broadcasts commercial-free satellite radio to its subscribers.

Sirius has a tremendous amount of hype around it. They have a market cap of over $3 billion compared to their competitor XMSR's market cap of over $4.8 billion. XMSR has over four times as many subscribers. SIRI is expected to close the gap in recruiting new subscribers each day.

The company continues to gush huge amounts of money, but the stock continues to bounce back time after time from about this level. This is why we believe it will once again climb over $4 a share by the end of the year.

Sirius expects to double its subscriber base from 500,000 to 1 million by the end of this year due to more and more manufacturers installing satellite radios in vehicles as well as partnerships with stores such as Radio Shack and Wal-Mart.

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