Sirius XM’s stock soars as Buffett’s Berkshire Hathaway reveals stake

Sirius XM Holdings Inc. shares
SIRI,
+8.69%
were rocketing 17% in premarket trading Wednesday after Warren Buffett’s Berkshire Hathaway revealed a new stake in the satellite-radio operator. Berkshire bought up 9.7 million shares of Sirius during the September quarter, worth $43.8 million as of the end of the period, according to the company’s latest 13-F disclosing its holdings. Shares of Sirius have declined 16% so far this year, as the S&P 500
SPX,
+0.50%
has added 17%.