Sirius XM Shares Hit new 52-Week High (SIRI)
Submitted by theStockMasters... on Tue, 02/02/2010 - 17:02
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Sirius XM Radio Inc. (NASDAQ:SIRI) is back, today shares hit a new 52-week high of 95 cents as the company is closing in on the $1 mark.
In the last month alone Sirius shares have stagged a comeback to the tune of up 56%. Volume is hot again today for SIRI shares, its already at 72 million, about 3x the daily average.
Sirius (SIRI) shares have traded from 5 cents all the way to 95 cents in the past 12 months.
Believe it or not, yesterday Moody's upgraded the company's debt. Moody's now has a Corporate Family Rating to ‘Caa1' from ‘Ca’ on Sirius XM with a Probability of Default Rating to ‘B3' from ‘Caa3' and speculative-grade liquidity rating to SGL-2 from SGL-3.
Sirius XM Radio has full hope in Mel Karmazin as he was given a new contract with an accompanying raise in July, largely on the grounds that he saved the company from impending bankruptcy.
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