Why EchoStar Is Skyrocketing Today

Shares of EchoStar (NASDAQ: SATS) jumped on Wednesday, closing the day up 15.5%. The jump comes as the S&P 500 (SNPINDEX: ^GSPC) and the Nasdaq Composite (NASDAQINDEX: ^IXIC) both ticked up modestly.The telecommunications company's stock continues to rise after yesterday's announcement that it has agreed to sell spectrum licenses to AT&T in a multibillion-dollar all-cash transaction.The company, which originally started Dish Network, has an extensive satellite network and will now sell a significant portion of its spectrum to AT&T for roughly $23 billion. The deal will expand AT&T's network by about 50 MHz of low-band and mid-band spectrum and is expected to close by the middle of 2026, assuming everything gets the stamp of approval from regulators.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool