Why Intelsat Stock Plunged 67.1% in 2019
Shares of Intelsat (NYSE: I) declined a stomach-churning 67.1% in 2019, according to data from S&P Global Market Intelligence, as the Federal Communications Commission (FCC) appeared to scuttle the satellite communication's company's efforts to -- along with other members of the C-Brand Alliance (CBA) -- hold a private auction to sell their C-brand spectrum assets to 5G internet providers.
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To be sure, Intelsat stock's extreme volatility last year was consistently tied to either worries or optimism surrounding the possibility of a deal that would help it to monetize its substantial wireless spectrum assets. Shares rose as much as 20% on Nov. 15 alone after the CBA offered a seemingly enticing deal to share a large slice of any proceeds from the proposed private auction with the U.S. Treasury.
Source Fool.com
