EchoStar Shares Surge 56.2% in June Amid President Trump's Intervention

EchoStar's stock surged 56.2% in June after President Trump intervened in a controversy with the Federal Communications Commission (FCC). The FCC had threatened to seize EchoStar's spectrum due to its slow progress in building a 5G mobile network, leading to missed interest payments and the threat of bankruptcy. Trump's intervention extended the deadline for the parties to reach an agreement, and EchoStar made interest payments to avoid default. However, the company still faces a significant debt load and uncertainty surrounding its wireless business.