Investors celebrate Sirius XM's rise from the ashes. Hollywood noticed, and now shareholders have their story told in the movie "Stock Shock."
Online PR News – 20-February-2010 – – Lot of movies get distribution without star names, we see it all the time. "Paranormal Activity" was made for a mere 15,000 dollars and boasts an entirely unknown cast. Producers of the ghost flick put forth a fantastic internet marketing plan and the film was picked up by Paramount Studios. To date, it has generated over 80 million dollars in domestic gross revenue. "It's a new day for independent films," says the owner of Mohr Productions, Inc. in Hollywood, CA. They should know. Their documentary "Stock Shock" just landed its own distribution deal and the future is bright.
"Stock Shock," a movie about Sirius XM and the manipulation of the American stock market, was produced in only 3 months by the independent production company. "We wanted to get the story out about corruption on Wall Street as soon as possible," says director Sandra Mohr. "Investors were losing their shirts and we believed the movie would help to educate and protect them." It seems to have worked. Soon after the movie spotlighted the ravaged shares of Sirius XM, the company stock rose nearly 1000 percent, and the Securities Exchange Commission appears to have finally taken an interest in naked short selling. "Manipulative short selling was the primary reason shares of Sirius XM and so many other stocks tanked last March," says Mohr.
"Stock Shock" is made in the tradition of Michael Moore's "Capitalism: A Love Story" and focuses on the average Joe investors of the satellite radio company. After CEO Mel Karmazin managed to merge Sirius Radio and XM in 2008, the stock was poised to go above its high of 9 dollars per share. Thats when the stock was allegedly attacked by aggressive hedge funds that drove the equity down to a horrifying .05 cents per share in early 2009. The movie lays out a case blaming naked short selling and poor SEC regulation for the stock's demise.
Now that the independent documentary "Stock Shock" has found a distributor, the sky may be the limit for this satellite company and its loyal, newly famous shareholders. Trailer is at www.stockshockmovie.com