Dish Network stock (NASDAQ: DISH) saw a rise of 16% in just the last one week (five trading days). The stock which now trades at $43 outperformed the broader market (S&P 500) which increased only 1% during this period. The rise in DISH stock was driven by the announcement that Dish Network has decided to partner with cloud computing giant Amazon Web Service (AWS) to sell 5G wireless services to businesses. Dish Network said it will connect its 5G network hardware and management software through AWS – the biggest computing service provider. It is also expected that Dish will prioritize its focus on enterprise before consumer retail wireless. This is likely to help Dish tap a wide market in association with Amazon’s AWS as 5G enterprise applications are expected to come up in smart factories, drones, autonomous vehicles, remote health care services, and many more areas. Dish plans to launch 5G wireless services in its first market – Las Vegas – in the latter half of 2021.
Now, is DISH stock poised to rise further? We believe that there is a strong chance of a drop in DISH stock over the next month (21 trading days) based on our machine learning analysis of trends in the stock price over the last ten years. However, there will most probably not be any major correction, as the stock will still remain above $40 as its top and bottom line is expected to grow faster considering its recent acquisitions and the latest announcement with respect to Amazon’s AWS. See our analysis on DISH Stock Chances Of Rise for more details.
Five Day: DISH 16%, vs. S&P500 0.8%; Outperformed market
(Extremely rare event)
- DISH Network stock rose 16% over a five-day trading period ending 4/26/2021, compared to a broader market (S&P500) rise of 0.8%
- A change of 16% or more over five trading days is an extremely rare event, which has occurred 19 times out of 2516 in the last ten years
Ten Day: DISH 14%, vs. S&P500 1.6%; Outperformed market
(4% likelihood event)
- DISH Network stock rose 14% over the last ten trading days (two weeks), compared to the broader market (S&P500) rise of 1.6%
- A change of 14% or more over ten trading days is a 4% likelihood event, which has occurred 94 times out of 2511 in the last ten years
Twenty-One Day: DISH 19%, vs. S&P500 7.3%; Outperformed market
(4% likelihood event)
- DISH Network stock rose 19% the last 21 trading days (one month), compared to a broader market (S&P500) rise of 7.3%
- A change of 19% or more over 21 trading days is a 4% likelihood event, which has occurred 94 times out of 2500 in the last ten years
Want upside from growing digitization post-Covid-19 but don’t want to pay a big premium for tech stocks? Check out our theme on Value Tech Stocks