Sirius XM is marking 14% of gains on its year to date chart, making it one of the leading media stocks in the market. Additionally, SIRI made a notable movement in the market on November 25th, jumping from 6.0 to 6.20$.
Sirius XM Holdings (SIRI) appear to be a definite winner among the media stocks that are seen in a difficult position in the flooded market.
SIRI have gone up by almost 14% on its YTD charts, previously scoring its all-time high price back in June 2018. At the same time, SIRI stocks were up by 44% during that period.
However, the value of the stocks soon plummeted with the dropping market. Once again after scoring the biggest gains among media stocks on November 25th, SIRI is down again on November 27th dropping by -1.10%.
SIRI One of the Leading Media Stocks in Gains despite the Lack of Positive Reactions after Pandora Acquisition
Sirius XM Holdings (NASDAD:SIRI) were seen in a proactive rise on November 25th despite the fact that media stocks are not doing pretty well in the market lately.
Starting with 44% in 2018 and setting an all-time high in June, SIRI was immediately categorized as one of the most prominent investments in the market of media stocks, although later on the value of SIRI backed down again.
Still marking 14% YTD, it is considered that SIRI might experience several more drops in the ending weeks of 2018.
Back in September,Sirius XM Holdings (SIRI) completed their acquisition of Pandora (NYSE: P). The acquisition was made as an all-stock agreement, estimating that the value of the contracts goes up to 3.5 billion dollars.
Even though it was previously considered that Sirius XM Radio is making a great strategic decision with the acquisition of Pandora, it seems that Sirius didn’t manage to score the predicted gains with Pandora by far.
However, it is considered that the companies are not strictly interconnected and mutually dependable while simultaneously supporting one another.
New shares of SIRI were issued with the acquisition, doubling the number of holders’ shares of Sirius XM, however, it is generally a thought that Wall Street’s improper response to the acquisition has slowed down the progress of the all-stock deal.
Still,Sirius XM Holdings (NASDAD:SIRI) is one of the top trading media stocks of 2018 considered to show more progress in the upcoming year.