Why Intelsat Stock Just Dropped 8.5%
Intelsat (NYSE: I) stock took a tumble today -- falling as much as 8.4% by 2:35 p.m. EST -- but I wouldn't go panicking just yet.
The only news that appears likely to have moved the stock was...pretty much a nonevent. Early this morning, at 6:59 a.m., before markets opened for trading, TheFly.com reported that someone had executed a "block trade" of 10 million shares of Intelsat at a $24.60 price.
Image source: Getty Images.
Source Fool.com
