Why EchoStar Rallied Again This Week
Shares of satellite telecommunications company (NASDAQ: SATS) rallied 27.3% this week through Thursday trading, according to data from S&P Global Market Intelligence.
EchoStar stock has nearly quintupled this year. Having begun the year as a debt-laden, struggling cable company, EchoStar decided to sell its long-held wireless spectrum assets to other players, and received significantly more money for them than the market had anticipated. Moreover, some spectrum was sold to SpaceX, for which EchoStar received both cash and SpaceX stock.
This week, EchoStar received even better news regarding the value of its remaining spectrum assets, as well as reports of ever-escalating estimates for SpaceX's valuation.
Source Fool.com
Echostar Corp. A Aktie
91,50 €
2,81 %
