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Worries over the Federal Communications Commission's planned auction of C-band satellite spectrum for use by 5G internet providers has shocked the stock of satellite communications company Intelsat S.A. (NYSE: I) -- still down nearly 85% over the past 52 weeks.
This morning, though, Intelsat stock is recovering and bouncing off of its losses -- up 20.8% as of 11:35 a.m. EST -- in response to (what investors are perceiving as) good news from the FCC: An auction is imminent.