Berkshire Hathaway is arguably always Buffett's favorite stock. But another stock commands a strong second place.

Sirius XM needed it. The stock is down 51% in 2024 and fell to a 12-year low of $22.18 on Oct. 7. The shares looked ready to rally in July, but found resistance at their 200-day moving average. Options traders are all in on calls.

Raising its stake in the home of Howard Stern to 32 percent represents a vote of confidence in SiriusXM XM Holdings combining with the Liberty Media tracking stock group.

Sirius XM ($SIRI), a leading audio entertainment platform, has caught the attention of Warren Buffett’s Berkshire Hathaway, which recently boosted