On June 26, Sirius XM stock was priced at $3.91 per share, a value fairly ordinary for the satellite radio company’s shares, which had been hovering close to that price since mid-March.
Then, as July began, SIRI, which trades on the Nasdaq GlobalSelect marketplace, began to surge. Last week, Sirius XM saw some seriously big gains, jumping from $4.94 last Monday to $7.81 on Thursday.
The reason? As RBR+TVBR reported, it was a “short squeeze.” Now, SIRI is in retreat, as a prominent analyst has downgraded the company’s stock.
