Telesat Shares Drop Ahead of AGM With Lightspeed Concerns Returning
Telesat shares fell 5.1% to $47.57 early Wednesday on Nasdaq ahead of the company’s annual shareholder meeting. First-quarter revenue dropped 25% to C$87 million, with a net loss widening to C$151 million. Telesat has invested about C$2.7 billion in its Lightspeed LEO satellite project and aims for global service by early 2028. Competition from Starlink and Amazon remains a key concern for investors.