When it was reported in November that Warren Buffett's Berkshire Hathaway purchased shares of satellite radio company Sirius XM Holdings (NASDAQ: SIRI), the media company's stock popped more than 10%. The sudden jump in share price is understandable, considering that up to that point, the stock had been struggling, down around 16% for the year.

Even with this pop, Sirius XM stock is down about 35% from its summer 2023 high, likely making some investors wonder if it is a buy now. Let's look at Sirius XM's prospects to understand if it may be worth buying shares today.

When it comes to satellite radio, Sirius XM is essentially a monopoly. If you want satellite radio in your car, at home, or on your mobile device, there's really only one choice.

Continue reading

Source Fool.com