Why Is Sirius XM Stock Trading Lower in 2021?

One of the more surprising winning streaks on Wall Street -- Sirius XM Holdings (NASDAQ: SIRI) delivering 11 consecutive years of positive shareholder returns -- came to an end in 2020 when the stock took a 9% (dividend-adjusted) hit. It's now working on its second consecutive year of negative shareholder returns.

Sirius XM seemed like a no-brainer play on the recovery from the COVID-19 crisis. Folks were getting out of the house again, and getting back into their cars where satellite radio is largely consumed. It should've been a roll call of reactivated subscriptions and new car sales. It wasn't.

Car sales have started to slow again after an initial pop in the first half of this year. The company's growth did accelerate compared to its depressed 2020 results, but that apparently hasn't been enough to impress the market. Sirius XM has been up and down all year -- but in the losing category more often than not. Now it's close to getting back into positive territory, but it was still trading 4% lower in 2021 through Tuesday's close, even adjusted for its quarterly distributions.

Source Fool.com