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TheStreet Open House

Five Buys Near 52-Week Highs

SIRI Chart SIRI data by YCharts

Sirius XM Radio (SIRI)

Background: Sirius Satellite Radio is a digital satellite radio system that broadcasts music and entertainment programming to motorists throughout the continental United States. Sirius trades an average of 109 million shares a day and has a market cap of $9.6 billion.

52-Week High: $2.54

52-Week Low: $1.27

I have been on both sides of the fence with Sirius. First, I was a bear, or at least not a bull, starting in March 2011. Lately, I'm a bull. Sirius enjoys a very large listening fan base, and a very large and vocal equity fan base. As one of the most widely held stocks, there are plenty who will point out how your opinion is wrong if they don't agree with the assessment.

Sirius ramped up in price over the last month as Liberty Media bought shares and on news of Liberty Media buying shares. I think Liberty Media's move to increase its stake in Sirius is a double-edged sword. If and when it buys a controlling interest to take advantage of the loss carry forwards Sirius has, the little guy may not fare so well.

The smart money, which is looking more like dumb money at the moment, is short Sirius relatively strongly. Nearly 10% of the float is short, and 9.6% is enough of a short interest to cause any investor to question what the shorts know that others do not.

For those willing to accept a larger risk level, Sirius does offer the potential for a greater percentage gain compared to most stocks because of the relatively low trading price.

At the time of publication, the author held no positions in any of the stocks mentioned.

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.

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