From Yahoo Finance: 2025-05-30 16:34:00

EchoStar missed an interest payment on a loan tied to wireless spectrum. The SEC previously called into question the spectrum license. Charlie Ergen’s EchoStar is in a battle with Elon Musk’s SpaceX over the spectrum, used for satellite communications. Shares of EchoStar plunged 12.1% after missing the payment.

The missed payment was due to uncertainty from a fight with the FCC over spectrum use. EchoStar’s spectrum was supposed to launch a 5G network but progress is slow. The FCC is reviewing the extension, and SpaceX also wants to use the spectrum. EchoStar missed a $326 million interest payment on its senior notes.

EchoStar is transforming due to declining pay-TV business. Boost Mobile is being built up as a new 5G service. The missed payment isn’t a sign of default, but the FCC controversy is concerning. Investors should wait for more clarity on the turnaround story. The Motley Fool’s top 10 stocks don’t include EchoStar.

Read more: Why EchoStar Plunged Today