Sirius XM Holdings (SIRI) Stock May Take Time To Rebound Soon

The satellite radio behemoth Sirius XM Holdings (NASDAQ:SIRI) had been one of the more reliable investments over the past decade as its stock managed to deliver handsome returns for 11 years straight. It came to an end last year and it has not been any different in 2021.

Sirius XM Holdings (SIRI) Stock May Take Time To Rebound Soon

fter the company provided a financial update yesterday, the Sirius stock slid by as much as 4% and now it remains to be seen if the stock can fashion a turnaround.

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The company’s revenues have not grown at an impressive rate in recent years and it all came to a head in 2020, when revenues grew by only 3.2% owing to the effects of the coronavirus pandemic. In 2021, the company expects to generate revenues of $8.35 billion. That reflects a rise of only 3.8% from 2020 when the company had already been ravaged by the pandemic. Hence, it is no surprise that investors no longer seem as bullish about Sirius at this point.

Anthony Gonzales

Biotech, Tech, and Crypto reporter Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.