Will Sirius Finally Make its Move?
No matter where investors stand on Sirius XM Radio (NASDAQ:SIRI), most agree that the stock’s lack of movement in 2013 has been baffling. Bulls say keeping the stock price low is a good thing, as it encourages larger investments, while bears say the lack of movement indicates Sirius is not primed for major growth. Yet the latest round of news seems to indicate the time for Sirius has finally come.
Investors who picked up Sirius at $1 per share will note that Sirius has been a good buy for years. The stock’s resurgence and ability to withstand general market fluctuations (with a little help) has made it a favorite for the meek at heart this year. What is the evidence that Sirius is just pausing on its way to much higher prices?
Most analysts point to the growth of the auto industry, the company’s strong financials and the resolution of leadership issues with majority interest-holding Liberty Media (NASDAQ:LMCA) as good reason to consider Sirius on the rise. Ahead of Tuesday’s earnings report, Sirius rose to $3.12 for week, beating the S&P 500 average and clocking a rise of nearly 4 percent for the week. News of year-long free packages for BMW and MINI drivers didn’t hurt, either. Indeed, it appears investor optimism is finally taking hold…