02/06 PRE-OPEN ALERT: SIRI-Nasdaq
Greetings Penny Stock Traders,
Sirius XM Radio (SIRI-Nasdaq, 0.165) has bounced off of it’s all time low of 0.11, increasing steadily this week on average daily volume of about 25 million. Yesterday the stock bounced as high as 0.20 and closed up 15% on the day at 0.165 on volume of 150 million; this volume level has not been breached since late July/early August 2008, where the stock was trading at $1.80. SIRI certainly has its challenges, facing bankrupcy on one side and a possible takeover play by EchoStar (SATS-Nasdaq) on the other. The WSJ recently reported that EchoStar has quietly accumulated a substantial portion of Sirius’ maturing debt in a possible effort to take control of the company. Either way, this stock is in play.
To your profitable penny stock trading,
Penny Stock Rockets