Volume Spike Investor

We are seeing a flurry of interest in shares of Sirius Satellite Radio Inc (NASDAQ: SIRI), or SIRIUS-XM, right before the open.  The company’s CEO Mel Karmazin is coming on CNBC today around 1:30 PM EST with none other than CNBC’s JIM CRAMER.  The bet is that he’s going to talk up his stock, discuss more stock buying he wants to do, and other bullish issues.  As CRAMER has been friendly with Karmazin in the past, despite recent caution, many believe Cramer may at least give it somewhat of a small endorsement for a reward for Karmazin’s dog and pony show.

Shares are up 3% at the open at $1.37 on almost 1.5 million shares at the bell.

Jon C. Ogg
August 11, 2008