Today Thursday, April 22, 2010 Sirius XM Radio Inc. (NASDAQ: SIRI) has traded over one dollar for the 7th day. With only 3 days left to go SIRI appears to be on the way to compliance! The fact the Security Exchange Commission (SEC) has brought charges against Goldman Sachs for fraud may have helped a great deal.
After today SIRI will only need 3 more trading days to trade over one dollar for 10 days. The SEC charging Goldman Sachs may have scared some hedge funds away since the SEC does not seem to be afraid to charge anybody if they can go after Goldman Sachs.
With no negative news to be seen in the near future, and financial reform in the minds of the SEC and politicians SIRI should make compliance with the NASDAQ.
After SIRI makes compliance it will be interesting for the aftermath! The SIRI earnings report will be good. According to the SIRI investor relations website, "SIRIUS XM Adds over 171,000 Net Subscribers in the First Quarter."
Disclosure: I am long Sirius XM