SIRI: Adding Sirius XM to Investing Ideas (Short Side)

01/21/21 03:33PM EST

Hedgeye CEO Keith McCullough is adding Sirius XM (SIRI) to the short side of Investing Ideas. Below is a brief note.

You know I go both ways, eh? And I like it. 

After a market move like this, I have a nice long shopping lists of shorts that have bounced towards the top-end of my Risk Ranges. One of them is Sirius XM (SIRI).

Here's a summary paragraph from Communications analyst Andrew Freedman's Communications Pro research product on the name:

We added SiriusXM (SIRI) as an active Short in the Hedgeye Communications Position Monitor on 12/18. We believe SiriusXM's attractive unit economics will deteriorate in the coming years (i.e., higher churn, rising content and subscriber acquisition costs) as share of audio engagement shifts to global streaming services. 

Sell the bounce,

KM

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