Although Sirius XM (SIRI) remains polarizing, the satellite radio provider has recently experienced a flood of investors abandoning the stock since the month began.
With shares closing down almost 3% to $3.26 Monday on volume of 136 million shares, Sirius stock has declined close to 10% in March and 7% year-to-date. Remarkably, the stock remains under pressure even though Sirius has enjoyed a flurry of good news. Recently, two analysts have initiated price targets of $4.50 and $5 per share. It hasn't helped, leaving investors to wonder, "How much more good news can this company endure?"
Now gotten even more complicated. Sirius' own performance, whether good or bad, may not be enough. The market sector has turned its attention to Apple (AAPL), the same company that many Sirius investors insist is not threat. Sirius investors tout that "content is king," and that Apple doesn't own any. But if rumors are correct, Sirius is on the verge of being checkmated.
Peter Kafka of Re/Code reported Monday that National Public Radio is coming to Apple's iTunes Radio. Often lauded by Sirius investors for its "music-only content," Apple is now exploring more ways to diversify its offerings. With popular shows like "All Things Considered" and "The Diane Rehm Show," NPR is a major step in giving iTunes Radio the level of respect that CEO Tim Cook has envisioned. But it doesn't end there.