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EchoStar Stock Soars Ahead Of SpaceX IPO

Benzinga·
EchoStar Stock Soars Ahead Of SpaceX IPO

EchoStar (SATS) shares surged 8.76% on Thursday as investors anticipate SpaceX's upcoming IPO. EchoStar sold spectrum licenses to SpaceX for ~$17 billion and received SpaceX stock valued at $400 billion. With SpaceX expected to IPO at a $1.75 trillion valuation, EchoStar's stake could significantly increase in value. The companies also established a strategic partnership for satellite-to-phone connectivity services through Boost Mobile and Starlink Direct to Cell.

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