Why EchoStar Rallied Again in September

Shares of (NASDAQ: SATS) rallied another 23.6% in September, according to data from S&P Global Market Intelligence.

EchoStar's rally was all the more notable, given that EchoStar had already rallied nearly 90% in the prior month, when it managed to sell a big slug of its wireless spectrum at prices much higher than the market had anticipated.

September saw a repeat occurrence, with EchoStar selling even more of its wireless spectrum assets, bringing in even more cash, as well as shares of Elon Musk's SpaceX. Management also gave a presentation regarding what it has done with all the cash, as well as its operational plan going forward.

Source Fool.com