Sirius XM Hosed By GM's Bad News (SIRI)

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.

See Also:
Goldman Whacks Sirius XM Growth Estimates, Drops Price Target To $0.25
SiriusXM CEO: Car Sales Can Tank And We’ll Still Be Fine
Will A La Carte Programming Save Sirius-XM? No

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