SIRIUS XM Radio Inc. (NASDAQ: SIRI) has suddenly become everyone’s buddy again. After shares cracked through the $1.00 mark they just kept running. At 2:28 PM EST we have seen a whopping 161 million shares trade hands and the stock is up 8.5% more at $1.14 for a new 52-week high (intraday high $1.18). If today holds up then we will have seen 5 consecutive up-days for SIRIUS XM.
Yesterday’s volume including after-hours came in at 184.75 million shares. We saw 153 million shares the day before that. Before this last run this week, there have been five prior days when we saw 100+ million shares trade hands. Before that, well you have to go to the end of August to find 100+ million shares in a day…. and shares were down in the $0.66 range then.
SIRIUS shares closed out 2009 at $0.60…. That makes for a 90% move so far in 2010. Wunderlich Securities raised gave the stock a Buy-rating and $1.00 stock. I have put in a call and email to the analyst there but not heard anything back yet over the $1.00 breach.
Of the major stocks, SIRIUS XM is the second most active stock in number of shares traded.
JON C. OGG
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