Sirius XM Stock Closes In on 11-Year High

Shares of Sirius XM Radio (NASDAQ: SIRI) are on the upswing these days. The satellite radio provider's stock has moved higher for four consecutive trading days, closing out last week within $0.05 of the highs it hit back in March. If it gets there, you will have to go all the way back to the springtime of 2006 to find the last time the stock was trading higher.

Momentum has been in the media giant's corner since striking a deal last month to acquire a piece of streaming music pioneer Pandora (NYSE: P). Sirius XM was reportedly in talks to buy all of Pandora last summer, but waiting a year afforded it the opportunity to pay a lot less for an influential stake in Pandora.

Sirius XM has also made its own luck. It has posted 30 consecutive quarters of adjusted earnings, and it's been able to grow its subscriber count sequentially in all but one quarter in that time. Sirius XM has been one of the market's biggest winners since bottoming out at $0.05 in 2009 -- nearly a 110-bagger in that time.

Source: Fool.com