Shares of EchoStar rose as much as 50% on Monday following a late Friday Bloomberg report that U.S. President Donald Trump urged EchoStar Chairman Charlie Ergen and Federal Communications Commission Chair Brendan Carr to reach a deal over the fate of the company's wireless spectrum licenses.

EchoStar’s stock was having its best day in 17 years after a report that President Trump has tried end the dispute between the company and the FCC.

President Donald Trump held talks last week with EchoStar founder Charles Ergen to resolve the company's public dispute over spectrum licenses with the Federal Communications Commission (FCC). As reported by Bloomberg late last week, Trump held talks with Ergen a couple of days after Ergen finally got the chance to meet with FCC Chair Brendan Carr.