10 Oversold NASDAQ Stocks To Invest In Now

7. Sirius XM Holdings Inc. (NASDAQ:SIRI)  

Number of Hedge Fund Investors: 33  

Forward P/E Ratio as of October 23: 7.86  

YTD Performance as of October 23: -50.26%  

Sirius XM Holdings Inc. (NASDAQ:SIRI) is an American broadcasting company that provides satellite radio and online audio services. The company is a leader in the audio entertainment industry and has a subscriber base of approximately 33 million.

On October 22, Sirius XM Holdings Inc. (NASDAQ:SIRI) announced a new partnership with ESPN that offers more ways for their US subscribers to access premium content. Starting later this month, select SiriusXM subscribers can receive up to a 6-month subscription to ESPN+, while new and existing ESPN+ subscribers will be eligible for a 6-month subscription to SiriusXM’s streaming-only service.

Through this offer, ESPN+ subscribers will gain access to the company’s extensive library via the SiriusXM app, including hundreds of ad-free music channels, live pro and college sporting events, and over 20 sports-focused channels with expert analysis. Eligible SiriusXM subscribers, beginning with Platinum VIP members and expanding to other tiers, will be able to enjoy ESPN+, the leading sports streaming platform, which features over 32,000 live sports events annually, including exclusive UFC events, NHL games, college sports, soccer, tennis, and ESPN+ Originals like the 30 for 30 film series.

Sirius XM Holdings Inc. (NASDAQ:SIRI) has a strong market share and high average revenue per user (ARPU). The company is transitioning its business and focusing on its strong properties such as SoundCloud and Pandora, as well as ad revenue. The company is a leading ad-supported streaming provider with 150 million listeners. However, Sirius XM Holdings Inc. (NASDAQ:SIRI) faces challenges in competing with Apple and Amazon, which have a reasonable market share and don’t need the same profits from their existing business.