What's Going On With Sirius XM Stock?

Sirius XM Holdings Inc SIRI shares surged more than 42% on Thursday on abnormally high volume. The stock was halted several times for volatility.

What To Know: Sirius XM's average session volume over 100 days is about 17 million, according to Benzinga Pro. Sirius XM's trading volume crossed 126 million on Thursday.

The stock was trending on social platforms for most of the day and was among the most mentioned tickers on Stocktwits at last check. Retail traders appear to be highlighting high short interest in the name. 34.45% of the float is currently sold short, per Benzinga Pro data.

Sirius XM is scheduled to report second-quarter financial results before the market opens on Aug. 1. The company is expected to report earnings of 7 cents per share on quarterly revenue of $2.24 billion, according to estimates from Benzinga Pro. Sirius XM has missed earnings estimates in three of the last four quarters. 

From Last Month: Sirius XM Analyst Sees Potential To Reach Double-Digit Stock Price

SIRI Price Action: Sirius XM shares are up more than 105% over the last month. 

The stock was down 4.23% after hours at $7.48 after closing the day up 42.3%. 

Photo: Lorenzo Cafaro from Pixabay.