Worth Watching: Could Liberty Sirius XM Group Change Direction After Making 52-Week High?

Worth Watching: Could Liberty Sirius XM Group Change Direction After Making 52 Week High?

The stock of Liberty Sirius XM Group (NASDAQ:LSXMK) hit a new 52-week high and has $60.96 target or 69.00% above today’s $36.07 share price. The 7 months bullish chart indicates low risk for the $15.92 billion company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $60.96 price target is reached, the company will be worth $10.98B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 151,052 shares traded hands. Liberty Sirius XM Group (NASDAQ:LSXMK) has risen 12.32% since April 19, 2016 and is uptrending. It has outperformed by 8.46% the S&P500.

According to Zacks Investment Research, “The Liberty SiriusXM Group provides satellite radio services consists of commercial-free music, sports, news, talk, entertainment, traffic and weather. The Liberty SiriusXM Group is based in United States.”

LSXMK Company Profile

Liberty Media Corporation (Liberty) owns interests in subsidiaries and other companies, which are engaged in the media and entertainment industries. Through its subsidiaries and affiliates, the Company principally operates in North America. The Company’s principal businesses and assets include its consolidated subsidiaries Sirius XM Holdings Inc. (SIRIUS XM) and the Braves Holdings, LLC (Braves Holdings), and its equity affiliate Live Nation Entertainment, Inc. (Live Nation). The Firm operates through two divisions: SIRIUS X, and corporate and other. SIRIUS XM transmits its music, sports, entertainment, comedy, talk, news, traffic and weather channels, as well as infotainment services, in the United States on a subscription fee basis through its approximately two satellite radio systems. Subscribers can also receive music and other channels, and features, such as Sirius XM On Demand and MySXM, over SIRIUS XM’s Internet radio service, including through applications for mobile devices. SIRIUS XM has approximately 29.6 million subscribers. The Company’s corporate and other segment includes its consolidated subsidiary, Braves Holdings.

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