Sirius XM (Nasdaq:SIRI) was among the most heavily traded stocks on Monday, and let the Nasdaq, with over 84 million shares trading hands.
Most of this is the result of the upcoming release of December auto data, which just about everyone knows will be an improvement on recent past sales.
As car sales go, so goes Sirius, but it's not always as simple as that, as some assert.
For example, it is noted that almost 50 percent of those acquiring new cars and trying out Sirius XM keep the service. But that's not really the story. The story is how many of those keeping the service after the trial runs out, continue to pay for the service going forward.
People temporarily retaining the service aren't going to be a sustainable source of revenue for Sirius, and that's what will determine their long term success or failure.
Even so, Sirius has no chance if cars aren't selling, and in the end, people have to buy new cars in order to be given the option in the first place.
Sirius closed Monday at $1.69, gaining $0.06, or 3.77 percent.
SIRI will rich 2-2.15$ within 6 weeks. After that, you'll see a break.
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