These 10 Stocks Lost This Much Today

6. EchoStar Corporation (NASDAQ:SATS)

EchoStar fell by 12.10 percent on Friday to end at $17.73 apiece as investors sold off positions to mitigate the risks, following news 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.

In a regulatory filing on Friday, 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.

The move sparked concerns that the company may potentially file a bankruptcy protection to shield itself from creditors.