Why EchoStar Corporation (SATS) Soared On Thursday

We recently published a list of 10 Stocks With Surprising Gains. In this article, we are going to take a look at where EchoStar Corporation (NASDAQ:SATS) stands against other best-performing stocks on Thursday.

EchoStar rallied for a second day on Thursday, growing 17.47 percent to close at 19.03 apiece, as investors resorted to bargain-hunting while for developments on its ongoing battle with the Federal Communications Commission (FCC).

In recent news, FCC announced that it intentionally did not settle worth $326 million of interest payments for one of its senior notes, saying that its ongoing battle with the Federal Communications Commission (FCC) froze its ability to make decisions.

The move sparked concerns among investors about the company’s potential filing of bankruptcy protection.

In a regulatory filing, EchoStar Corporation (NASDAQ:SATS) said that it received a letter from the FCC on May 9 indicating that the latter was beginning a review of its compliance with certain federal obligations to provide 5G service in the US and raising concerns regarding its buildout extension and mobile-satellite service utilization in the 2GHz band.

“In light of this uncertainty, we have elected not to make an approximately $326 million cash interest payment due on May 30, 2025,” it said, adding that the move was to allow time for the FCC to provide the relief it requested.

Overall, SATS ranks 2nd on our list of best-performing stocks on Thursday. While we acknowledge the potential of SATS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.