EchoStar Stock Climbs As Investors Cheer Ongoing Spectrum Sales Strategy
EchoStar Corp. (NASDAQ:SATS) stock is trading higher on Tuesday.The satellite communication company is reportedly engaged in talks to sell some of its wireless spectrum to Verizon Communications Inc. (NYSE:VZ).Bloomberg reported that the discussions center on EchoStar's AWS-3 licenses, which are valuable for carrying 5G signals. The company has assigned a carrying value of $9.8 billion to the spectrum in regulatory filings.While a deal with Verizon may not reach those levels, investors reacted positively to ...