Short Sellers Win In SIRIUS XM, Autos Flinch (SIRI, F, GM)

Investing

Published: September 27, 2011 9:12 am

Last Updated: April 28, 2020 4:51 am

SIRIUS XM Radio Inc. (NASDAQ: SIRI) is a stock that has become the target of short sellers now that shares went well above $2.00 and came falling back down to earth. It was not that long ago that we noted how SIRIUS XM may now be no different than auto companies based upon the chart performance. That may have deviated a tad in recent days but not by very much.

The pop over the last two days may have caused short sellers to lighten up, but the short sellers have been very active in these auto names and in SIRIUS XM. It would also appear as though the short sellers are winning as all of these have lower prices than on the last settlement date.

SIRIUS XM was at $1.84 on September 15 and shares went out Monday at $1.67 as its lowest close since September 12. The September 15 settlement date showed the short interest as being 270,521,617 shares with a days-to-cover ratio of 4.2 this time. This was the highest short interest and with the highest days-to-cover since July 29.

Ford Motor Co. (NYSE: F) was at 10.63 on September 15 and shares went out Monday at $10.08 after a $9.62 low close last week. The short interest on the September 15 settlement date was 157,135,464 shares and the days-to-cover was 2.714392. This was the highest short interest since June 30 and the highest days-to-cover since July 15.

General Motors Company (NYSE: GM) was at $22.70 on September 15 and shares went out Monday at $21.08 after a $20.24 low close last week. The short interest on the September 15 settlement date was 51,635,654 shares and the days-to-cover was 4.211518. This was the highest short interest and the highest days-to-cover since June 30.

General Motors shares one thing with our recent most mispriced IPOs… It trades as a busted IPO. That was from 2010 though, so it was not on our last.

JON C. OGG

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