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Why EchoStar Rocketed 56.2% in June

TheMotleyFool

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Why EchoStar Rocketed 56.2% in JunePhoto, wide shot, wide-angle lens, Telecom equipment supplier, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Michael Light: https://img.theapi.app/temp/ad10ed87-71d0-4096-a50b-ba9470f8264b.png

Shares of EchoStar Corporation (NASDAQ: SATS) rocketed 56.2% higher in June, according to data from S&P Global Market Intelligence.

EchoStar has been embroiled in a controversy with the Federal Communications Commission in the new administration, which has led to missed interest payments and the threat of bankruptcy.

However, it appears President Trump intervened on EchoStar's behalf in June, extending the deadline for both parties to agree to a deal.

Source Fool.com