SIRIUS XM Radio Inc. (NASDAQ: SIRI) has done what many would have bet againstâ¦ It has broken the buck, and to the upside.Â We have seen over 100 million shares of the satellite radio monopoly trade hands today and shares are up over 9% at $1.05.Â $0.98 was a new high yesterday, following $0.95 earlier.
The last time SIRIUS XM traded without a â$0.â in front of its share price was September 2008â¦.. We are even seeing more action in the options, yes options on a $1 stock, in the FEB-MAR-JUN expirations.
Yesterdayâs volume was over 153 million shares.Â A recent upgrade gave the stock a $1.00 target, so do not too shocked if there is a downgrade based solely upon valuation targets being reached.
The move yesterday and today is a sentiment change more than on actual news.
JON C. OGG
12:37 PM EST