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Without leaving you in suspense, traders should be cautious about Sirius XM (SIRI). A once-prominent player in the broader media space, Sirius – which specializes in satellite radio – has long struggled due to the rise of competition. In addition, the company was simply slow to address the threat of streaming services. Thus, it’s no surprise that in the year-to-date period, SIRI stock fell more than 32%.
Nevertheless, beaten-down enterprises are also liable on occasion to bounce higher. Consider the example of a kickboard that’s been forcibly submerged underwater. Let it go and the swimming apparatus’ natural buoyancy sends it shooting back up, sometimes violently depending on the circumstances. That may be the case with SIRI stock.
