How high could SIRI spike on tuesday and in the coming days?
If this New York Post story is accurate, I expect a massive short squeeze on tuesday morning. How high could this push the stock? Could it be a multi-day rally? Depending on what the details of the deal are and when they surface, I'm concerned they may be spun negatively. With the stock having already been priced for bankruptcy though, I see the company's escaping bankruptcy and new found viability trumping any minor details. Almost half of the Dec. debt being refinanced was also very positive. According to the NY Post story, this would be a two stage plan and the rest of the '09 debt would be restructured within months. I expect the stock to spike again when this second part is finished. A surprising Q4 report could also spike the stock. The iPhone app hitting the street could also spike the stock. The biggest news of all is that they are not going bankrupt though.......
How high could the stock spike on tuesday and in the coming days?
I ask, because I really have no idea. I have heard people say everything from .20 to 2.00 in the short term. I'm afraid of trading it on the way up and selling too soon. It seems like it may be almost impossible to trade the stock in the coming days. How much of a short squeeze will there be? How long will it last? How much new buying interest will there be when it is realized that the company is not going bankrupt? What do the shorts have to hang there hat on now? Would there not be a massive short squeeze on tuesday on this news? Aren't the shorts completely ****ed?
Could SIRI pop back to over $1.00 pronto or will we be lucky to hit .20?
Curious what everyone's thoughts are......