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Why EchoStar Stock Is Falling Today

TheMotleyFool

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Why EchoStar Stock Is Falling Today: https://g.foolcdn.com/editorial/images/821139/gettyimages-466727938.jpg

Telecom and satellite company EchoStar (NASDAQ: SATS) is reportedly considering a bankruptcy filing to protect its spectrum licenses. Investors are not taking the threat lightly, sending EchoStar shares down as much as 15% at the open and down 8% as of 11 a.m. Eastern.

Image source: Getty Images.

EchoStar is a satellite television and communications company currently focused on growing a nationwide cellular business. The company owns Boost Mobile, the nation's fourth-largest wireless carrier, and is building out the network using its spectrum holdings.

Source Fool.com