The bill would set up a $6B fund to pay expenses and incentives to vacate the bands.
But the C-Band Alliance (led by Intelsat and including SES (OTCPK:SGBAF)) has said the airwaves could be worth up to $77B and calls for spectrum holders to receive "fair value."
Intelsat (NYSE:I) is down 5.9% in after-hours trading, and finished the day down 7.8%. Its shares also fell in November when FCC Chairman Ajit Pai called for a public auction of the C-band airwaves, rather than private auction preferred by companies.
While all of this is negative, what caught our eye is traders bought the dip off $2.72. $I closed the day with a green candle. That's a sign. While we won't load the boat, $I could be a nice trade with proper risk management.
As always, trade with caution and use protective stops.
Good luck to all!