10 Stocks With Surprising Gains

2. EchoStar Corporation (NASDAQ:SATS)

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.