Price/Volume Surge: Sirius XM (SIRI)

Posted in after-hours, General 
October 27th, 2008

Sirius XM Radio (NASDAQ: SIRI) was one of today’s surprises, even for a penny stock.  In fact, that could even be “particularly for a penny stock” based upon the change compared to recent activity.

Sirius shares traded over 98 million shares and shares rose 30% to $0.38.  Its shares are also higher by almost another $0.02 in after-hours trading.  If you can believe it with a share price this low, it does still have stock options.

Here is the full synopsis of the rumors today at 24/7 Wall St. with a much more detailed explanation.

This stock is essentially trading at the price that it is merely a call option.  Whether or not any of the rumors come true, let’s just make the reminder that they almost never have before.

Jon C. Ogg

October 27, 2008 (5:05 PM EST)

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