Telesat Shares Drop Ahead of AGM With Lightspeed Concerns Returning
Telesat Corp shares dropped 5.1% to $47.57 early Wednesday on Nasdaq, as trading stayed volatile before the Canadian satellite company’s annual shareholder meeting scheduled for later. Shares began the day at $49.39 and sank to an intraday low of $47.18, according to the latest data. Telesat shareholders meet online at 1:30 p.m. Ottawa time, where they’ll vote on typical annual items like the audited financials, board members and Deloitte’s auditor role. But investors are watching for signs on how fast the company can get its Lightspeed satellite project moving and start showing growth.