Long
$I Is A Speculative Buy
I has absolutely decimated its shareholders over the last few months. The latest news is there's a bipartisan Senate bill proposes limiting the payout to companies looking to monetize C-band spectrum.The bill would set up a 66B 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 bullish 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!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.