Thursday, September 12, 2013

SiriusXM Shares Hit New Five-Year High

SiriusXM Radio Inc  barreled through its old five-year high of $3.85 Wednesday.

According to The Motley Fool, it may seem like an odd week for the satellite radio giant to hit its highest levels since the springtime of 2008. CC Media's Clear Channel improved the talk content features for its iHeartRadio Talk app on Monday. And Apple Inc. announced Tuesday that iTunes Radio would roll out with next Tuesay's iOS 7 update.

Howoever, the mobile audio market is growing, and more easily accessible alternatives could mean more competition for the attention of potential SiriusXM Radio subscribers.

Then again, Sirius XM investors may argue that there's no reason to fear the threat of either company. iHeartRadio's been around for years, and Sirius XM has still grown to top 25-million subscribers this year.

SiriusXM has also seen encouraging auto sales, and that's ultimately more important than a lot of the distractions happening on the streaming end of the market.

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