It's time to get serious about Sirius. Of stocks that started 2024 as large caps, the media giant had one of last year's worst performances. It surrendered more than half its value, closing out the year as an out-of-favor mid cap. Sirius XM hit an 11-year low last month. The starting line now is brutal but opportunistic.

Sirius’ net margins (net income, or profits after expenses and taxes, calculated as a percent of revenues) fell from levels of about 15% in 2021 to about 13% in 2022 amid market share losses. However, net margins grew slightly to about 14% in 2023. There remains a possibility that margins could fall to about 9% in the near term.

Shares of Sirius XM Holdings (NASDAQ: SIRI) are down about 59% in the past year and currently trading at a 52-week low. Underwhelming results from the satellite radio giant have raised concerns about whether the company can manage to turn the dial to the correct growth station.

Berkshire Hathaway has a substantial stake in Sirius XM, indicating confidence in its potential despite challenges. Click here to read why SIRI stock is a Buy.

This was the stock's second consecutive day of gains.