Sirius Satellite recently had their credit rating upgraded by Standard and Poor's to a B. Investors are looking at the company's improving operating performance as reassurance that the stock will continue to rise. Investors are also looking past concerns of what will happen to the company if Howard Stern permanently leaves. Howard Stern is a popular radio personality, but he has seen his ratings dramatically decline since moving to satellite radio. Some argue that the loss of Stern will be a positive due to his high costs.
Satellite radio faces intense competition from many other sources. However the stock gained 25% in September and many people are now betting on its viability.
Sirius reached a new 52 week high today of 1.31.
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