$ECHO is trading at a 20-40% discount to its SpaceX stake alone. EchoStar has … · @Eyescool · TwKit

@Eyescool

$ECHO is trading at a 20-40% discount to its SpaceX stake alone. EchoStar has a contractual right to 261.8M SPCX shares (delivery ~Nov 2027). At $135, that’s ~$35B — more than ECHO’s entire market cap. You’re getting the remaining spectrum, cash, and operating stubs for free, after haircuts for time, taxes, and bankruptcy risk. Analysts (UBS, JPM, DB) still see $144-150 targets. The market is pricing it as a distressed telecom, not a delayed SpaceX vehicle. Not pure $SPCX . But the cheapest public way to own the dominant launch + orbital compute player right now.

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