What's Going On With Sirius XM Stock?
Portfolio Pulse from Adam Eckert
Shares of Sirius XM Holdings Inc (NASDAQ:SIRI) surged over 42% on high volume, with trading halted several times due to volatility. The stock was trending on social platforms, with retail traders highlighting high short interest. Sirius XM is set to report Q2 financial results on Aug. 1, with expectations of earnings of 7 cents per share on quarterly revenue of $2.24 billion. The stock was down 4.23% after hours at $7.48.
July 20, 2023 | 9:23 pm
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POSITIVE IMPACT
Sirius XM's stock surged due to high trading volume and short interest. The upcoming Q2 results could further impact the stock.
The surge in Sirius XM's stock price is due to high trading volume and short interest, indicating a potential short squeeze. The upcoming Q2 results could either sustain the momentum if they beat expectations or trigger a sell-off if they miss.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100