Major satellite stocks hammered
October 27, 2017
By Chris Forrester
The ‘big three’ satellite operators, Intelsat, SES and Eutelsat have all suffered massive falls in their share prices.
Intelsat’s tumbled 19.36 per cent in late-afternoon trading on October 26th (by $1.15 to $4.79) and at one point the share price hit $4.44 (€3.82).
Eutelsat’s fall from grace was even more dramatic, crashing 14 per cent in early trading on the Paris exchange, falling €3.24 to €19.97 in early trading in October 27th.
SES of Luxembourg also saw a severe fall on October 27th from an already depressed price of €16.68 to a 5-year ‘low’ point of just €14.49.
The problems for each of the three giant operators can be summed up as one of ‘confidence’ in their future business models.