Why EchoStar Stock Keeps Falling
EchoStar's problem isn't in orbiting satellites; it's in paying down debt.
After falling more than 12% Friday, shares of satellite communications company EchoStar (NASDAQ: SATS) slipped another 3% through 10:30 a.m. ET Monday.
That's disappointing, because EchoStar's latest news is actually good: As The Fly reports today, the company has awarded Maxar Space Systems a contract to build EchoStar's next geostationary communications satellite, EchoStar XXVI, to "deliver robust coverage to DISH TV customers across all 50 U.S. states, including Puerto Rico."
Image source: Getty Images.
