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

In the long term, Sirius XM does face some serious headwinds. Remote work has put a dent in subscriber growth, as many potential customers are no longer commuting regularly in their vehicles. Mounting competition from other streaming services continues to threaten the company's ability to attract and sustain its subscriber base.

Sirius XM Holdings (NASDAQ: SIRI) had a rough 2024. The company's share price collapsed by more than 50%, wiping out roughly $8 billion in value. Warren Buffett's holding company, for instance, now owns $2.

Warren Buffett’s Berkshire Hathaway has spent another $54 million to purchase Sirius XM stock, giving it a stake of more than 35% in the satellite-radio company.

Warren Buffett’s Berkshire Hathaway (NYSE:BRK.A) (NYSE:BRK.B) has further raised its bet on Sirius XM Holdings (NASDAQ:SIRI), boosting its stake to over 35%, latest regulatory filings show. The conglomerate acquired around 2.