Bad Reception for Sirius

Editor's note: This Stocks Under $10 alert was originally sent to subscribers April 12 at 12:14 p.m. EDT. It's being republished as a bonus for TheStreet.com and RealMoney.com readers.

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Sirius Satellite Radio(SIRI Quote) is arguably one of the most popular companies in the Stocks Under $10 universe. We last wrote about the company in December and have been negative on the stock for sometime. With shares now trading down at our $3 target price, it's time to revisit Sirius -- to see if the stock offers any long-term potential for investors.

When we first wrote about Sirius, our thesis was that its subscriber estimates were too aggressive and that satellite radio was no longer the "must have" product for consumers. We still believe the future is cloudy in this regard; however, the playing field has changed. ...