Kerrisdale's Adrangi: Why I'm Shorting Dish Shares

The video discusses Dish's spectrum value, focusing on its AWS4 spectrum, which is set to expire in three years. The spectrum is nonstandard, making it less attractive to major carriers like AT&T and Verizon, who are unlikely to pay a premium for it. The FCC has set a deadline for Dish to build out its spectrum, which it has not met, leading to potential reversion of the spectrum to the government. The market is beginning to realize the implications of this deadline, affecting Dish's stock value. Technological advancements in LTE and 5G are also influencing spectrum needs.

What is the primary reason Dish's stock is considered to be worth less?

• AT&T and Verizon are not interested in buying spectrum.

• The FCC has extended Dish's spectrum deadline.

• Dish is losing its AWS-4 spectrum soon.

• Dish's spectrum is nonstandard.

Why might AT&T and Verizon bid lower for Dish's spectrum?

• Dish's spectrum is nonstandard and less valuable.

• They prefer to wait for new technology.

• The FCC has banned them from purchasing more spectrum.

• They have no interest in expanding their networks.

What was Dish's promise to the FCC when it received the spectrum?

• To develop new technology for the spectrum.

• To build out the spectrum and compete with major carriers.

• To return the spectrum to the government.

• To sell the spectrum to AT&T and Verizon.

How have technological advancements affected the need for Dish's spectrum?

• They have led to a decrease in data traffic.

• They have made Dish's spectrum obsolete.

• They have made LTE more efficient, reducing the need for Dish's spectrum.

• They have increased the need for nonstandard spectrum.

What strategy have AT&T and Verizon adopted regarding spectrum usage?

• They are waiting for Dish to lower its spectrum prices.

• They are focusing on acquiring new spectrum only.

• They are not planning to expand their networks.

• They are relying on a mix of refarming old spectrum and purchasing new spectrum.