Why Sirius XM Holdings Rallied in April

Shares of satellite radio company Sirius XM (NASDAQ: SIRI) rallied 16.7% in April, according to data from S&P Global Market Intelligence.Sirius reported solid earnings in April, but not until the very last day of the month. Rather, most of the month's move higher came from a new partnership announcement with Alphabet's (NASDAQ: GOOG) (NASDAQ: GOOGL) YouTube, followed by a big analyst upgrade. On April 22, Sirius XM announced a new partnership with YouTube. According to the press release, starting this fall, advertisers will be able to buy audio-focused YouTube inventory through SiriusXM Media, SiriusXM's adtech platform. The deal prompted a rise in the stock, given that YouTube's massive reach could drive strong advertising growth for SiriusXM's advertising solutions segment.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool