Satellite-radio operator Sirius XM Holdings (NASDAQ: SIRI) has made for an underwhelming investment in recent years. Its shares are down more than 21% since 2021. Investors appear to have given up on the company as a potential growth investment. And there is no shortage of people betting on its failure, as short interest has been rising.

Is Sirius XM a stock that can prove its doubters wrong, or is it destined to fall even further?

Sirius XM posted its full-year 2023 results earlier this month, and sales of just under $9 billion showed minimal growth from 2022. Its operating expense also looked largely unchanged at around $7 billion. A decrease in income tax expense was the main reason the company's earnings of $1.3 billion rose by 4%. The company did generate a solid 14% profit margin for the year. And it brought in free cash flow of $1.2 billion.

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Source Fool.com