Why Sirius XM Stock Went Up Then Back Down Today

Why Sirius XM Stock Went Up Then Back Down Today

The stock of Sirius XM (NASDAQ: SIRI) shot up Wednesday morning but came back down to earth by the close. Shares of the satellite radio provider were up as much as 24% before closing the trading session with a gain of 5%. Sirius XM had almost 18% of its float sold short as of the start of the year, according to MarketWatch.