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Barchart
Barchart
Wajeeh Khan

EchoStar Stock Just Broke Above Its 50-Day Moving Average on SpaceX IPO Hype. Does That Make SATS a Buy?

EchoStar (SATS) stock rallied as much as 12% on Wednesday following reports that SpaceX plans on filing for an initial public offering (IPO) as early as next week. The surge pushed SATS well past its 50-day moving average (MA) this morning, signaling upward momentum may continue in the near term.  

Despite today’s gains, EchoStar stock remains down nearly 10% versus its YTD high in January. 

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