10 Stocks Battered by Bearish Outlooks

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

Sirius XM declined by 6.93 percent on Tuesday to close at $22.70 apiece as expectations of softer advertising spending have weighed down on the company’s shares.

At a Deutsche Bank conference on Tuesday, SIRI Chief Finance Officer Tom Barry raised concerns on the lower advertising spending, saying that SIRI has been experiencing a recent pullback in advertising from consumer packaged goods and retail industries over the past few months.

Barry also feared that the lower ad activities could dribble down to other sectors amid the ongoing trade war between the United States and its trading partners, which could further impact profit margins.

SIRI, an American broadcasting company, derives a huge portion of its revenues from advertising. However, the past two years saw a lower number of subscribers for the company due to inflationary pressures.