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Why EchoStar Stock Crashed 18% Today

TheMotleyFool

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Why EchoStar Stock Crashed 18% TodayPhoto, 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

So it seems that the rumors were true.

Two weeks after Bloomberg broke the story that the on-again, off-again merger between EchoStar (NASDAQ: SATS) and DirecTV might be on again, EchoStar this morning announced a "suite of transformative transactions to delever its balance sheet and improve its debt maturity profile."

Investors are unimpressed. EchoStar stock fell 18.5% through 10:15 a.m. ET on the news.

Source Fool.com