Sirius XM Has Fallen and It Can't Get Up
Winning streaks are fun, but they don't last forever. Last year, Sirius XM Holdings (NASDAQ: SIRI) snapped an amazing run of 11 consecutive years of positive stock returns.
The satellite radio giant's 9% dividend-adjusted slide in 2020 was inevitable. No stock keeps climbing -- even on an annual basis -- forever. It was just cruel timing for Sirius XM shareholders to prove mortal last year, when the markets were generally buoyant.
Sirius XM could've embarked on a new winning streak in 2021, but a 4% slide on Wednesday after a poorly received financial update puts the heavily traded radio king of all media stocks back in the hole. Will it bounce back in 2021, or are we on the second year of a losing streak? Sirius XM was one of the hottest stocks for more than a decade, but with growth slowing, it has a lot of work to do if it wants to get back on track.
Source Fool.com
