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Why SiriusXM Tanked 22.1% in March

TheMotleyFool

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Shares of Sirius XM Holdings (NASDAQ: SIRI) tanked 22.1% last month, according to data from S&P Global Market Intelligence.

Investors appear concerned that Sirius XM's satellite radio business will see its subscription business take a hit over the coronavirus outbreak. Many economists estimate we now have a double-digit unemployment rate. First-time unemployment claims have skyrocketed to 6.6 million during the week ended March 28.

Image source: Getty Images.

Source Fool.com

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