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Why EchoStar Has Blasted 48% Higher This Week
Since last Friday, shares of the satellite television and wireless operator EchoStar (NASDAQ: SATS) had blasted nearly 48% higher as of Thursday, a day in which the market is closed due to the observance of Juneteenth. The stock rocketed higher after media outlets reported that President Trump has encouraged the company and the U.S. Federal Communications Commission (FCC) to make a deal and end their dispute.EchoStar owns several satellite, phone, and television companies, including Boost Mobile, HughesNet, Dish, and Sling. The company and its subsidiaries also own spectrum licenses, which grant it approval to use parts of the electromagnetic spectrum, which is critical for operating and providing various forms of wireless communications.Image source: Getty Images.Continue reading
Since last Friday, shares of the satellite television and wireless operator EchoStar (NASDAQ: SATS) had blasted nearly 48% higher as of Thursday, a day in which the market is closed due to the observance of Juneteenth. The stock rocketed higher after media outlets reported that President Trump has encouraged the company and the U.S. Federal Communications Commission (FCC) to make a deal and end their dispute.
EchoStar owns several satellite, phone, and television companies, including Boost Mobile, HughesNet, Dish, and Sling. The company and its subsidiaries also own spectrum licenses, which grant it approval to use parts of the electromagnetic spectrum, which is critical for operating and providing various forms of wireless communications.
Image source: Getty Images.
