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Shares Of Dish Network Owner EchoStar Plunge As Q2 Results Prompt New Talk Of Bankruptcy Risk
Shares of troubled Dish Network parent EchoStar have fallen sharply Monday after a soft earnings report and renewed chatter about possible bankruptcy.
Shares of troubled Dish Network parent EchoStar have fallen sharply Monday in the wake of a downbeat second-quarter earnings report, with chatter continuing about a potential bankruptcy filing. In a scorching note to clients that reaffirmed his earlier take on the situation, veteran analyst Craig Moffett of MoffettNathanson said EchoStar is “highly likely to go bankrupt, quite possibly by the end of the year.” It has accumulated significant wireless spectrum holdings and also acquired assets including Boost Mobile that government regulators required Sprint to sell off when it merged with T-Mobile.
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