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Why Viasat Stock Just Crashed 18%
Viasat (NASDAQ: VSAT) stock tumbled 18.1% through 11:05 a.m. ET Tuesday -- but perhaps not for the reason you think.Yesterday, T-Mobile (NASDAQ: TMUS) announced a new direct-to-cell satellite communications service in partnership with SpaceX Starlink, which is roiling the space satellites market. The move threatens Viasat's business model (I think), and is probably a good reason to be leery of Viasat stock.But that's not why investors are selling Viasat stock today. They're selling because insider shareholders are selling.Continue reading
Viasat (NASDAQ: VSAT) stock tumbled 18.1% through 11:05 a.m. ET Tuesday -- but perhaps not for the reason you think.
Yesterday, T-Mobile (NASDAQ: TMUS) announced a new direct-to-cell satellite communications service in partnership with SpaceX Starlink, which is roiling the space satellites market. The move threatens Viasat's business model (I think), and is probably a good reason to be leery of Viasat stock.
But that's not why investors are selling Viasat stock today. They're selling because insider shareholders are selling.
