In this [SIRI | Sirius XM Holdings Inc | Quick Take 2] video 🎥, we will be taking a second look at Sirius XM as requested by one of our viewers, Allen. We had been following Sirius on our channel and had previously taken it out of our Bullpen. However, it recently popped back up, which you can check out in our previous Quick Take video linked below. As we were watching it, we noticed an Arbitrage opportunity with Liberty Media and we wanted to see if there was any news regarding this.
Upon further observation, we saw that Sirius had recently run up and tested the resistance at the upper trend line and longer-term moving average. However, it was rejected and bounced back down. Additionally, they were recently removed from the NASDAQ 100, causing some selling pressure. As we had suspected, they did bounce back up quickly, which was a bit surprising due to their high short float. However, they also have a high float, creating a significant discrepancy between their outstanding and float shares. This could potentially mean that they have shares to offer.
It is important to note that the potential buyout with Liberty Media is more of a merge, and the stock is optionable. There is also no significant debt, but an analyst report did show a negative outlook for them.
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📖 CHAPTERS 📖
00:00 – SIRI | Sirius XM Holdings Inc
05:01 – BeachBum Trading Sites
05:49 – Discord Invite
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🔽 REFERENCES 🔽
📝 SIRI – Sirius XM Holdings Inc – Home Page 👉 http://www.siriusxm.com/
📝 Profile of Sirius XM Holdings Inc (SIRI) stock | ChartMill.com 👉 https://www.chartmill.com/stock/quote/SIRI?a=152324
📝 SIRI Sirius XM Holdings Inc Stock Quote 👉 https://finviz.com/quote.ashx?a=311864277&t=SIRI
📝 Weekly Trading Game Plan Notes for 7/15 – 7/19/24 – Part 2 👉 https://docs.google.com/document/d/1EobUWfdleflJwfT_DqAn1XOLi3sYalh6vsPceYiFevo/edit?usp=sharing
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