Why Sirius XM Shares Fell 10.9% in 2020
Shares of digital radio specialist Sirius XM Radio (NASDAQ: SIRI) fell 10.9% in calendar year 2020, according to data from S&P Global Market Intelligence. The stock never made a full recovery from the COVID-19 market panic in March.
The stock market as a whole managed to bounce back from the spring's darkest days and post a 16.3% gain for the full year, as measured by the S&P 500 market tracker. Sirius followed the market down but sputtered on the way back up.
The company's financial reports were decent enough, showing stability on both the top and bottom lines throughout 2020. But Sirius XM missed out on the fantastic growth spurts that other digital entertainment experts such as Netflix (NASDAQ: NFLX) and Spotify (NYSE: SPOT) enjoyed during the same period. Netflix jumped 67% last year while fellow music and podcasts specialist Spotify delivered a soaring 110% return, leaving Sirius XM far behind.
Source Fool.com
