I - Why Intelsat Stock Popped 10.3% in September
Shares of Intelsat (NYSE: I) climbed 10.3% in September, according to data from S&P Global Market Intelligence, as investors anticipate a potentially lucrative deal to pave the way for the satellite communications specialist to sell its C-band spectrum assets.
That's not to say Intelsat's rise last month was a straight line upward. It plunged as much as 16% on Sept. 3, as the market weighed industry peer Eutelsat's decision to withdraw from Intelsat's C-Band Alliance, which was formed to work with the Federal Communications Commission to achieve the aforementioned deal. The market was also reacting to the implications of recent FCC filings detailing multiple future launch missions from potential competitor SpaceX.
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