The markets are crazy right now. Sirius XM’s stock Nasdaq : SIRI, has a history of this up and down nature. Severe drops followed by severe, but steady, gains. Penny stocks are of a volatile nature, Sirius has always been known as “the next big thing.” Institutions seem somewhat scared by SIRI due to its up and down nature, at least mutual funds.
Sirius is still below what it was sitting at before the markets started dipping so rapidly. This means there is still even more value to be had with a buy bid. As with the nature of SIRI, investors would be better buying and selling repeatedly, vs buying and holding on for the long term. Buy low, sell high; but this is not a stock you want to just buy and hold. If you bought the stock at 1.00, you have had a nice 100% gain. However, if you bought and sold in that same time you would be sitting at near 500% gain with little risk of losing out. By selling, the fear is you could miss the rise. However, wait long enough and the stock will be only a few cents higher than what you missed out on. Sirius does show consistent growth. If this economy ever turns around, SIRI will jump as high as 8.00 – 10.00.