So goes the auto industry, so goes Sirius XM Radio, which relies on new car sales with built-in satellite radios for the bulk of its new subscribers.
So when the auto industry has its worst month, adjusted for population, in the post-World War II era, it’s no surprise that Sirius shares took a dive: While the Nasdaq traded up 0.3% today, Sirius XM (SIRI) stock closed down 8.3% to 31 cents; it had dropped as much as 13% before recovering.
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