SiriusXM stock has plummeted over 60% in the past year, prompting Warren Buffett's Berkshire Hathaway to increase its investment position. The satellite radio company's shares have hit a 52-week low of $20.58, their lowest point in more than a decade.

The company has faced significant challenges:

• Subscriber count dropped by 800,000 since 2021, now at 33.2 million
• Q3 2024 subscriber revenue declined 5%
• SiriusXM relies on satellite radio subscriptions for 70% of total revenue
• Streaming competitors like Spotify continue to show strong growth (18.6% YOY revenue increase)

Despite these challenges, major investors remain optimistic:

• Berkshire Hathaway purchased approximately 5 million additional shares worth $113 million
• Their total stake is now 117.5 million shares (35% ownership), valued at $2.4 billion
• Weitz Investment believes current market sentiment is "overly pessimistic" about SiriusXM's future cash flows

The company's 2019 acquisition of Pandora aimed to expand into streaming, but SiriusXM continues to focus primarily on its auto-listening segment. While mobile streaming has reduced the necessity of in-car entertainment systems, hedge funds appear confident in the company's ability to recover from current lows.

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