A beleaguered satellite company on the verge of bankruptcy a year ago has become the Fortune 500’s latest success story in shareholder returns: its stock price soared 430% since the beginning of last year, including nearly 375% in 2025 alone.
The SpaceX news sent EchoStar shares soaring 19% in early trading, and the stock would triple its share price from the time of the deal to the end of the year. AT&T stock is down following news of SpaceX’s pending IPO, with investors seeing a rapid switch to satellite internet compared to AT&T’s primarily broadband business.
Ergen told investors in EchoStar’s earnings presentation earlier this year that the company would put its trust in Musk.
“When you connect any square inch of the planet, that’s just a big business,” Ergen said. “They’ve been the best company I’ve ever worked with in 45 years. They’re just responsive. They’re creative. They move at a pace that most companies don’t. I don’t think any amount of valuation is probably crazy there.”
