Warren Buffett Is Buying Sirius XM Stock. Should You?
A curious stock purchase landed on the Berkshire Hathaway 13-F this quarter: Sirius XM (NASDAQ: SIRI). The team at Berkshire, led by Warren Buffett, increased its position by 262% in the quarter after the stock began to fall precipitously, with shares down around 50% year to date. Seeing as this was just a small position in the Berkshire portfolio, it is possible that Todd Combs or Ted Weschler, Buffett's lieutenants, bought the stock for Berkshire Hathaway.
Either way, the legendary conglomerate is increasing its exposure to the audio, music, and car radio platform. Should you buy shares along with it?
Sirius XM is a subscription audio service with satellite connectivity and a focus on automobiles. It signs deals with automotive manufacturers to bundle subscriptions to Sirius XM with car purchases. The company has 33 million total subscribers who listen to Sirius XM music, talk radio, and podcasts.
Source Fool.com
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