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In the midst of a bearish market on Wednesday, Sirius XM Holdings (NASDAQ:) Inc.’s shares recorded their third consecutive day of losses, declining by 2.54% to $4.6 per piece. This downturn came as the and fell by 1.62% and 0.98%, respectively in the session.
The decline in Sirius XM’s stock price puts it $3.35 below its 52-week high of $7.95, achieved on July 20, 2023. Sirius XM’s performance lagged behind other tech giants such as Alphabet (NASDAQ:) Inc.’s Class C and Class A shares, and Meta Platforms Inc (NASDAQ:)., all of which posted relatively smaller losses.
Trading volume for Sirius XM remained significantly below its 50-day average volume. This trend suggests a decrease in investor interest in the company amidst the current market conditions.
According to InvestingPro Data, Sirius XM has a market capitalisation of $17.68 billion with an adjusted P/E ratio of 15.54.
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