After the announcement yesterday that Howard Stern and Don Buchwald were now able to sell there over $200 million in Sirius holdings, the stock dropped almost 6%. Today Sirius Satellite Radio's CEO, Mel Karmazin, bought up 1 million shares (a value of over 6.2 million dollars) in order to show that he is "committed" to the company's success. Mel's purchase send the stock driving back up 6.2%, thus negating yesterday's slump.
There is still no word if Stern or Buchwald will sell there recently gifted shares of Sirius. Just a lot of internet speculation.
Read more at Bloomberg
Talk about it here
(Bloomberg also updated this story, they 1st reported 100 Million Shares, it was only 1 Million shares, the value was correct at 6.2 Million dollars)