DISH Network (NASDAQ:DISH) stock is taking off on Thursday following reports of a new plan to sell wireless plans to customers.
According to insiders, DISH Network is in talks with Amazon (NASDAQ:AMZN) to sell wireless plans through the company’s e-commerce platform. This comes as DISH Network has spent billions of dollars to establish a 5G network.
These recent reports claim that the company could announce the collaboration with Amazon as early as June. If that happens, it could act as a major boon to DISH stock and help ease concerns that investors have about its 5G spending.
Neither DISH Network or Amazon have been willing to comment on the potential wireless plans. Even so, investors should keep in mind that the two already work together, as DISH is a customer of Amazon’s cloud-computing services.
DISH Stock Movement on Thursday
The idea of DISH Network teaming up with Amazon has investors excited on Thursday. As a result, there’s been heavy trading of DISH stock today. That has more than 11 million shares changing hands as of this writing. To put that in perspective, the company’s daily average trading volume is around 9.5 million shares.
DISH is up 10.2% as of Thursday morning but still down 51.4% since the start of the year.
Investors on the lookout for even more of the most recent stock market news will want to stick around!
InvestorPlace is offering up all of the biggest stock market stories worth reading about on Thursday! Among that is our coverage of Nvidia (NASDAQ:NVDA), Medtronic (NYSE:MDT) and Mobileye (NASDAQ:MBLY) stock today. You can catch up on all of this news at the links below!
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
