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Short selling up for SIRI and XMSR

sirius-xm-merger.jpgAccording to a report on 24/7 Wall St, SIRI short selling has increased by 14.4 million shares in the second half of November, and stands at 113.5 million shares as of 11/30, now standing as the third highest short interest on the NASDAQ, and eighth overall. XM’s short interest is up 9%, and stands at 21.9 million shares.

The increase is likely due to the pending merger. More people feel confident that the merger will not be approved, and hope that will drive the stock price down dramatically.

For those who don’t know what short-selling is, it is when you sell a stock without owning any shares, hoping it will go down. You then buy the stock back, hopefully at a lower value. It is basically ’sell high, buy low’.

So did you short SIRI or XMSR, or do you own some shares, thinking the merger will be approved?

Posted by BenDee on Wednesday, December 12th, 2007 at 10:37 am.
Filed in XM, Stocks, Sirius.
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Comments:

  1. It will happen! by evan2000
  2. the entire stock market is relying on short selling. Is the Fed going to drop the rates this week? That is the question. by JoeTan
  3. It is about the fed, and yesterday they dropped it .25 wasn't enough for wall street which was looking for .50 base points. by adev25
  4. That fed rate is the same as printing more money. Doesn't work for more than one business day then it's back in the toilet and now your money is worth less. What happens when it hits 0% and nothing is fixed? by JoeTan
  5. Something may be happening... SIRI and XM stock prices turned significantly downward at about 3pm today. by HomieG
  6. Quote:
    Originally Posted by HomieG View Post
    Something may be happening... SIRI and XM stock prices turned significantly downward at about 3pm today.
    Two congressmen are sticking their nose's in the DOJ's business again. Smells like the NAB is lurking. by River_King
  7. Quote:
    Originally Posted by River_King View Post
    Two congressmen are sticking their nose's in the DOJ's business again. Smells like the NAB is lurking.
    Bless them for doing so. by HomieG
  8. Yes it was interesting,

    I bought shares when Howard announced going to sirius. Still kept them till this day. by GameZoneRadio
  9. http://www.mffais.com/stocks/24526/s...sdaq.siri.html

    Check out the current holdings in SIRIUS stock. by Nationwide
  10. Quote:
    Originally Posted by Nationwide View Post
    http://www.mffais.com/stocks/24526/s...sdaq.siri.html

    Check out the current holdings in SIRIUS stock.
    Looks like the market is still showing the odds of the merger going through at 50/50. by River_King
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