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Stock selloff of satellite broadband company ViaSat ‘largely driven by emotion,’ analyst says

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Viasat’s stock plunged more than 28% on Thursday after the communications company disclosed a problem that could affect one of its satellites.

Viasat Inc.’s stock plunged more than 28% on Thursday after the communications company disclosed a problem that could affect one of its satellites.

But William Blair analyst Louie DiPalma said that the satellite setback, while frustrating, has prompted an outsized reaction. “We believe this stock selloff is largely driven by emotion as there are a number of mitigating factors that soften the blow,” he wrote in a note Thursday, adding that insurance and ViaSat’s acquisition of Inmarsat will lessen any impact.

Related: Viasat’s stock soars after $2 billion deal to sell Link 16 TDL business to reduce debt, boost liquidity

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