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
