EchoStar Faces $40 Billion Test After SpaceX, AT&T Deals
EchoStar is trading in Monday premarket as traders keep adjusting to what’s basically a new pitch for the company—less the old pay-TV story, more a play on selling spectrum, some SpaceX tie-in and a shot at fixing up the debt mess. EchoStar Corporation’s Nasdaq stock finished Friday at $129.19, dropping 1.4% on the session. Even so, shares gained roughly 4.9% for the week, which started May 26, during the market’s holiday-shortened stretch. EchoStar’s investor-relations figures showed 8.6 million shares traded Friday. The regular Nasdaq hours are 9:30 a.m. to 4 p.m. ET, so Friday’s close was the last full-session price before trading resumes on Monday.