Why Intelsat Stock Dropped 16% This Morning
This morning, without warning -- and without any news relating to the company specifically, it seems -- shares of satellite communications company Intelsat (NYSE: I) abruptly plunged 16%.
The stock has since recovered somewhat, and as of 11:40 a.m. EDT, it's trading down "only" 7%. But that still leaves investors scratching their heads: Why did Intelsat stock fall in the first place?
One guess: SpaceX.
Source Fool.com
