(Sirius XM story updated with stock price movement and analyst insight)NEW YORK ( TheStreet) -- Sirius XM ( SIRI - Get Report) shares are remaining above $1 a share after Thursday's opening bell. Sirius XM stock is currently trading at $1.10, up 6.2% Thursday morning, after it surged above the $1 a share mark on Wednesday, breaking through the penny-stock barrier for the first time since 2008. But what does all this really mean for Sirius XM and its investors? Jack Hain, an analyst at Barrington Research, says that first and foremost the clearing of the $1 threshold holds a significant psychological impact for Sirius XM investors -- especially institutional investors. Institution investors, of course, are reluctant to touch stocks below $1. And, in perhaps the most important impact, Hain noted that the stock move "reduces or almost eliminates the delisting threat" that had many investors in Sirius XM worried -- some might even say hysterical and paranoid. "Whether or not that was an actual threat remains to be seen, but we don't even have to worry about it at this point," Hain said. (Trading under a dollar despite its multibillion market cap had placed Sirius XM in a rare situation, noted Hain.) A stock that closes above a dollar for 10 consecutive business days regains compliance with the NASDAQ. The burning question for many interested observers is whether the stock's momentum will bring its price to levels where mutual funds will begin jumping in and buying up Sirius XM shares. Hain says that might not happen any time soon, given that mutual funds are often reluctant to get into a stock that trades under five dollars.
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