SIRI benefits from expanding portfolio and clientele. However, intense competition and stretched valuation keep investors on the sidelines.
This has been nothing short of a phenomenal year for Wall Street and the investing community. The ageless Dow Jones Industrial Average, benchmark S&P 500, and growth stock-focused Nasdaq Composite have respectively delivered gains of 19%, 26%, and 27%, as of the closing bell on Nov. 27, as well as hit multiple record-closing highs.
It's been about 59 years since Warren Buffett took the helm at Berkshire Hathaway. He paid roughly $14.86 per share in 1965 to take control of the holding company.
A New York state judge ruled Thursday (Nov. 21) that SiriusXM must change its subscription cancellation policies and pay unspecified damages. Justice Lyle Frank found that the company's policies violate the federal Restore Online Shoppers' Confidence Act, Reuters reported Friday (Nov. 22).
Sirius required subscribers to speak at length with live agents trained to dissuade cancellations, and listen to as many as five offers of other services before being allowed to cancel.
SiriusXM Radio will have to change its cancellation practices in New York state after a court said it created a burdensome procedure for consumers and subscribers, according to New York Attorney General Letitia James.
A New York state judge found Sirius XM Holdings liable in New York Attorney General Letitia James' lawsuit accusing the satellite radio and streaming company of making it too hard for customers to cancel subscriptions.
SiriusXM's high P/E & ad revenue dips signal caution. Despite promising growth plans, investors should wait for a more attractive valuation before entry.
Sirius XM Holdings Inc.'s split from Liberty Media and simplified capital structure make it a compelling investment and brand rebuilding opportunities. The company aims to increase subscribers from 40 million to 50 million, boosting free cash flow to $1.8 billion annually. Berkshire Hathaway's big investment in the stock has been mostly overlooked due to the $10 billion in net debt and declining revenues.
This stock's losing ground, but the future looks much more promising than the past has been.
It's been cut in half in 2024. Next year should be a lot better.
The radio company is in a very interesting position. Is now the time to invest?