Sirius XM Investors Can't Seem to Shift Out of Reverse
One of the market's most contested battleground stocks a decade ago has become more of a sleepy historical landmark. Sirius XM Holdings (NASDAQ: SIRI) reported its first-quarter results on Tuesday morning. If you missed the news, it's because the country's lone satellite radio provider isn't as widely followed as it used to be.
Sirius XM's trading volume in April has been roughly a quarter of what it was in the same month back in 2014. The stock is trading essentially where it was a decade ago, and it's not the only thing that doesn't appear to be moving. Growth has stagnated for the once volatile media stock that was the ultimate meme stock before meme stocks were a thing. Whether Sirius XM will become a hot number anytime soon remains to be seen.
Revenue rose a mere 0.8% to hit $2.16 billion for the first three months of the year, as a 7% year-over-year increase in ad revenue was largely offset by a 1% decline in its more significant subscription revenue. If this seems uninspiring, there are two positives in the reframing process.
Source Fool.com
