Why Iridium Stock Trounced the Market on Thursday

Satellite stocks were hot among investors on Thursday, and one beneficiary of this was telecom services specialist Iridium Communications (NASDAQ: IRDM). Following a widely read media report about a peer company potentially being acquired, Iridium's share price zoomed more than 15% higher. That crushed the essentially flat performance of the S&P 500 index.Before market open, the Financial Times published an article stating that Globalstar was in discussions with Amazon about a potential acquisition. Such a deal would bolster Amazon's current satellite internet effort, called Leo (not coincidentally, the acronym for low Earth orbit, the region of Earth's orbit most crowded with satellites). Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool