As a gamer with a keen eye for investments, this news about Warren Buffett’s increased stake in SiriusXM SIRI has certainly piqued my interest! With a life-long passion for both gaming and finance, I’ve always admired the Oracle of Omaha for his shrewd investment strategies.
On Monday, shares of SiriusXM (SIRI) surged following news that Warren Buffett’s Berkshire Hathaway increased its ownership in the satellite radio firm to 32%.
Last week on October 10th, Berkshire Hathaway Inc., Buffett’s investment entity, disclosed in a SEC filing that they had purchased approximately 3.6 million shares of the company behind the SiriusXM and Pandora brands, at a total cost of $87 million, over transactions spanning from Wednesday to Friday.
Berkshire Hathaway is expanding its ownership in SiriusXM, this move comes after Sirius XM Holdings merged with John Malone’s Liberty Sirius XM group of tracking stocks from Liberty Media, resulting in a publicly traded company known as Sirius XM (SIRI) on the NASDAQ stock exchange.
On Monday, the price of SiriusXM’s SIRI stock climbed by approximately 8% or $2.04, reaching $26.97, following an increase in Buffett’s conglomerate’s ownership stake in the satellite radio company as it seeks to establish a presence in the streaming market.
Approximately 16% of the newly issued SiriusXM shares (symbol SIRI) are collectively owned by minority shareholders, whereas Liberty, headed by President and CEO Greg Maffei and Chairman Malone, holds the majority or controlling interest.
As a gamer, I’m all about leveling up my investments, and right now, I’ve got my eyes set on SiriusXM (SIRI). Berkshire Hathaway is ramping up its game here, hoping to score bigger wins than it did with Paramount Global. You see, earlier this year, old man Buffett cashed out from his position in Paramount’s non-voting stock, taking a pretty hefty hit on that investment. So, I guess they’re looking for greener pastures now.
I’ve noticed that my investment in SiriusXM (SIRI) didn’t fare so well this week. Despite a slight uptick on Monday, it’s been trending downwards, far from its 52-week high of $57.80.
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2024-10-14 21:54