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Why EchoStar Shares Are Soaring Today

TheMotleyFool

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EchoStar (NASDAQ: SATS) has a deal to sell wireless spectrum licenses to AT (NYSE: T) for $23 billion, a deal that would clear up a lot of the uncertainty surrounding the telecommunications company. Investors are celebrating the announcement, sending EchoStar shares up more than 75% as of 10 a.m. ET.

Image source: Getty Images.

EchoStar is a satellite television and communications company currently focused on growing its Boost Mobile cellular business, the nation's fourth-largest wireless carrier.

Source Fool.com