Why is the Sirius stock value going down?

Question

With the approval of the merger, I thought the stock would go up to at least $4. And they also just reported that their losses were not as high as they had originally thought. And despite both of these good pieces of information, the stock has dropped like $0.15. I know that the market isn't that great today, but still....

Answer 1

The overall economy is looking bad.  And in such environment even a good company can loose money.  

It's the future P/E many investors care about.  And perhaps many investors think that the 'E' part won't be doing so well in the future.

Answer 2

Stocks don't necessarily react to good news by going up. Stocks can simply lose momentum.

When  stock doesn't move up on good news, this itself may be an indication that the stock doesn't have much upside potential.

     Fifteen cents isn't much of an indication of anything.

    SIRI has been basically in a downtrend for at least a year. Look at a yearly chart. And the last few days have shown steep drops.

     A downtrend speaks for itself.