Sirius Digging Out of Its Hole
Another milestone for Sirius XM.
Shares in the satellite radio broadcaster hit a new 52-week high Wednesday–$1.44. And while that’s a fraction of their all-time high, it still means they’re up more than 130 percent for the year.
Which is damn impressive for a company that was slapped with a Nasdaq minimum-bid notice a little over a year ago.
And there’s more good news on the way. Sirius (SIRI) said Wednesday that it added more than 334,000 Net subscribers in its third quarter. That’s more than triple its gain of a year ago. Sirius now has about 19.9 million subscribers and hopes to end the year with approximately 20.1 million.
Amazing what a recovery in consumer spending and auto sales can do, isn’t it?