Reported 11 days ago
Billionaires Warren Buffett, Israel Englander, and Steven Cohen are increasing their investments in Sirius XM Holdings, which is undergoing a reverse stock split in 2024. This move aims to raise the share price above $5 to attract institutional investors, despite the usual negative perception surrounding reverse splits. Sirius XM stands out due to its unique subscription-driven revenue model, providing strong cash flows, making it more resilient in economic downturns compared to traditional radio operators.
Source: YAHOO