In just the second time in months, XM Satellite Radio Holdings Inc. (XMSR) shares broke above their 50 day moving average. The stock has struggled with the fierce competition from rival Sirius Satellite Radio Inc. (SIRI), FCC compliance issues, cuts in subscriber guidance and a track record of losses, according to this SeekingAlpha article.
The catalyst for the stock going higher was an analyst upgrade and an announcement from Sirius denying rumors that Howard Stern would leave the company as well as XM chairman emphasizing the long-term growth potential.
Know More about the broadcast media at BizOfShowBiz.com.
Comment Preview