Sirius (SIRI) staged an odd rally late Friday, moving up 15%. the rise began after 2 PM.
The sharp increase in the shares was may on tremendous volume, nearly 47 million shares.That is nearly twice what the company trades in a normal day.
There may be more rumors that the FCC is going to give the Sirius merger with XM Satellite (XMSR) more generous terms than Wall St. thinks. So far it has been assumed that pricing to the consumer will be capped to prevent monopoly pricing. But, both companies are in such bad financial shape that regulators may fell allowing for no increases in pricing to the consumer could doom the two companies.
No matter what the cause, Sirius is likely to drop back to where its started and drop back there early Monday.
Douglas A. McIntyre
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