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SiriusXM has recently signed multi-year contract with Formula 1 which made the radio company the official North American Broadcaster of exclusive Formula 1® (F1®) races. The broadcasting started last weekend at the United States Grand Prix.

SiriusXM aired the coverage of the 2017 Formula 1 United States Grand Prix on its exclusive channels such as Sirius channel 132, XM channel 203 and on the 963 SiriusXM application. To add, the company will be covering the remaining four Formula 1® races for 2017 such as the season-finale 2017 Formula 1 Etihad Abu Dhabi Grand Prix. The media company will also report the Formula 1 season for 2018 and beyond.

"Formula 1 races are sensational, world-class events, which showcase the most advanced automotive technology in the hands of exceptional drivers competing on very challenging circuits," President and Chief Content Officer of SiriusXM, Scott Greenstein, told reports.  "We are very excited to deliver the excitement of these races to SiriusXM listeners across the country.  As Formula 1 makes its way around the globe, we will bring its fans in North America to each international venue and enable them to follow the action live."

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Nico Rosberg testing his new Mercedes W05 F1 car on the first Test at the Jerez Circuit in Jerez, Andalucia, Spain.

"We are delighted to have Formula 1 back on SiriusXM," Managing Director for Commercial Operations at Formula 1 Sean Bratches, added.  "Their ability to offer live coverage of all races throughout the Championship to their numerous fans and listeners provides tremendous additional exposure for F1 in the North American market."

The FIA Formula One World Championship is the premier end of motor race competition.  The season operates from March until November and this year comprises of 20 Grand Prix contests run on road course pathways, in addition to some fastened city streets courses. 

Formula 1® uses a widespread auto racing roster on SiriusXM that consist of every NASCAR competition and all Indy Car Chains contest, and likewise enlarges the quantity of European sports programming accessible to SiriusXM audiophiles, which by now highlights English Premier League and Champions League soccer.

Trading Performance

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Sirius XM currently is facing a potential decline in its recent trades. It ended at a bearish performance at 5.73 which is a -0.43% decline overall.

As for its Relative Strength Index, it also mirrored a similar decline as the one above. It was down at 57.35 recently.

Lastly, its Coppock Curve was last seen at 5.78 which would recommend a buy. But with the declines above and the current inclination of the indicator, a hold on buy would be much preferred.

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