EchoStar Corporation (NASDAQ:SATS) is one of the stocks Jim Cramer discussed amid the reshuffling of the S&P 500. Cramer explained why the stock has been “skyrocketing,” as he stated:

Finally, there’s EchoStar, which is a satellite play. After doing nothing for basically 17 years, this company burst into the scene last year with some huge deals to sell spectrum. In late August, EchoStar announced it would sell certain wireless spectrum licenses to AT&T for $23 billion. Just a couple of weeks later, in early September, they rolled out a separate deal to sell spectrum licenses to SpaceX for $17 billion.

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EchoStar Corporation (NASDAQ:SATS) provides networking technologies and communications services, including satellite television, streaming video, wireless connectivity, broadband access, and 5G infrastructure.

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