10 Stocks Delivering Explosive 18-190% Gains

5. EchoStar Corporation (NASDAQ:SATS)

EchoStar climbed by 30.94 percent week-on-week after rallying for seven consecutive days, as investors took heart from SpaceX’s billion-dollar public offering plan as well as an investment firm’s bullish coverage for its stock.

On Thursday alone, EchoStar Corporation (NASDAQ:SATS) jumped to an all-time high of $109.53 after Bloomberg reported that Elon Musk-led SpaceX—which it is a shareholder of—would pursue an initial public offering next year in a bid to raise more than $30 billion in fresh funds.

Bloomberg said that SpaceX may list publicly in June, targeting a valuation of around $1.5 trillion. EchoStar Corporation (NASDAQ:SATS), which currently owns $11.1 billion worth of SpaceX stock, stands to benefit from the IPO as it could substantially unlock the value of its investment.

In other news, EchoStar Corporation (NASDAQ:SATS) earned a higher price target of $110 from Morgan Stanley, versus $82 previously, as well as a rating upgrade of “overweight” versus “equal weight” prior.

According to the investment firm, EchoStar Corporation (NASDAQ:SATS) stands to benefit from the increasing competition in US wireless carriers.

“Spectrum is an appreciating asset, and we expect both Verizon (VZ) and T-Mobile (TMUS) to be aggressive in pursuing the remaining paired AWS-3 holdings at EchoStar,” it said.