1 Warren Buffett Stock That Could Go Parabolic in 2024
Among the dozens of stocks in Berkshire Hathaway's (NYSE: BRK.A) (NYSE: BRK.B) portfolio, there are a few surprising holdings. One name that stands out as an odd choice for Warren Buffett is Sirius XM Holdings (NASDAQ: SIRI). The satellite radio operator was once a battleground stock. Now, it just battles the ground, seemingly forgotten by growth and value investors alike as its price meanders around in mid-single-digit territory.
Berkshire owns a small stake in Sirius XM itself, and a larger position in Liberty Sirius XM (NASDAQ: LSXMA) (NASDAQ: LSXMK), the tracking shares that have historically traded at a discount to the satellite radio monopoly's shares. They are slated to merge into Sirius XM by the third quarter of this year.
After years of decelerating revenue growth and a fairly flat stock chart, one might wonder why anyone would think this could be the year that Sirius XM goes parabolic. Let's go for a drive. I hope you don't mind if I crank up the volume.
Source Fool.com
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