Sirius XM shares fall 13.5% due to ad concerns

Shares of Sirius XM Holdings have dropped 13.5% this week, following comments from CFO Tom Barry about concerns in the advertising sector. He noted that tariffs and inflation are impacting ad spending, a key revenue source for the company. Barry highlighted recent softness in ad spending from retail and consumer goods sectors, raising concerns about broader trends. This decline comes amid signs of economic weakness, which typically affects advertising budgets. Sirius XM's stock has fallen over 47% in the past year, as competition in the satellite radio market increases. Despite this, the company is pursuing a transformation plan and offers a nearly 5% dividend yield for investors.