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Sirius XM breaks $1.00 per share

screencap 2010-02-17 at 11.22.46 AM

Great news today for any Sirius XM investor, Sirius XM’s stock has finally managed to break the elusive $1.00 price point we have been waiting years to see. The last time the stock traded above $1.00 was all the way back in September 2008.

The $1.00 price is great news for any investor for a few reasons. The dreaded reverse split is most likely out of the question and the chance of being delisted from NASDAQ is also within reach since the stock has until March 15th to stay above $1.00 per share. (You need to be above $1.00 for 10 Trading Days)

Finally Sirius XM will no longer be considered a “Penny” stock. It was always frustrating having that label when you know that the stock, company and product are better than that.

Also for the first time ever Sirius XM has been listed as a top gainer on Google Finance. They are also a top gainer on Nasdaq for the day.

screencap 2010-02-17 at 11.19.36 AM

It’s also a relief to see Jim Cramer eat crow, today announcing that Sirius XM’s “balance sheet is improving“.

Today is a great day for investors and for this Company. With a strong earnings call in the future we may get to see this stock explode.