Strength Seen in Sirius XM (SIRI): Can Its 7.9% Jump Turn Into More Strength?
Top Gap Ups and Downs on Monday: BLCO, SIRI, ICL, HMY and More
Buffett increased his stake in the satellite broadcasting company SiriusXM to 32%.
Last week, Warren Buffett's Berkshire Hathaway company spent about $87 million in multiple trades to buy approximately 3.6 million shares of SiriusXM stocks, increasing its shareholding to 32%. Despite facing issues such as user attrition and insufficient growth potential, Berkshire may be interested in the merger arbitrage opportunity, hence choosing to continue investing. The news of increased shareholding caused SiriusXM's stock price to rise more than 9.3% during Monday's trading.
Communications Services Up Amid Deal Activity - Communications Services Roundup
Sirius XM Options Spot-On: On October 14th, 69,575 Contracts Were Traded, With 2.17 Million Open Interest
Stock Market at New Highs; Movers: SoFi, Boeing, Sirius XM
