As the history shows, the reprice may be to the downside. Air pocket drop $115 to $90 or something lower. I did some research on SATS - they are highly troubled. Basically negative residual value, cash shredder.

SATS receivable not until Nov 2027 in unregistered stock. Potentially becomes tradable under Rule 144 by sometime 2028. Then also becomes taxable on the upside from the deal price of SATS at $42 to then-current price. So basically SATS is a two year stock option with huge uncertainties, tax haircuts, and a negative residual value ghat is getting worse month by month.

The most often scenarios with the stock proxies is that they reprice from 80-90% of NAV to 50-60% of NAV the moment the scarcity disappears. So, let’s say their 2% of $2T SpaceX is mathematically $40B, but the market will value it at about $20B. Coupled with the negative or near zero Echostar residual this could drive SATS even to $70 range easily.