Sirius XM stock surges 42% in one day, triggering multiple trading halts

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Sirius XM stock is rising

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Sirius XM (SIRI) stock is up more than 42% today on unusually high volume. The stock was stopped several times during the day.

The average trading volume of the stock over the last 100 days was around 17 million. after To To the petrol. Meanwhile, SIRI volume peaked at 126 million shares on July 20. The stock trended on social media platforms for most of the day, becoming one of the most featured stock tickers on StockTwits. By some estimates, SIRI is one of the most shorted stocks on the market at 34.45%.

Sirius The satellite radio company has missed earnings estimates in three of its last four quarters.

SIRI hit its first trigger for a volatility break at 2:22pm ET and was stopped twice more at 2:35pm. This is the stock’s biggest intra-session gain in more than 14 years and takes it to a two-year high. I’m looking for Alpha reports that trading in SIRI will be of interest to those who have invested through Liberty Media’s interest in the company.

Liberty Media has completed the spin-off of Atlanta Braves Holdings into a separate public company. This means that shares in Liberty Sirius XM will be converted into one new share of Liberty Sirius next month

Despite the positive stock news, Sirius XM is facing a class action lawsuit in federal court in New York. The lawsuit alleges Sirius The lawsuit was filed on July 14 by Kellee Mitchell, who worked remotely for Sirius XM from November 2020 to August 2021 and has a customer service representative.