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Why EchoStar Stock Is Skyrocketing Today

TheMotleyFool

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Why EchoStar Stock Is Skyrocketing Today: https://g.foolcdn.com/editorial/images/823201/gettyimages-1248262649.jpg

(NASDAQ: SATS) stock is surging higher in Friday's trading following some big financial news. The company's share price was up 12.8% as of 2 p.m. ET. Meanwhile, the S 500 was up 0.3%.

EchoStar submitted a filing with the Securities and Exchange Commission (SEC) indicating that it is making over $500 million in debt-interest payments. The payments had been overdue, but the fact that they are now being dispersed to creditors should help stave off bankruptcy risks.

Image source: Getty Images.

Source Fool.com