Well it's more believable than a satellite placed in orbit 35,000 km above the Earth's surface. Let me ask you.... How is a satellite able to be put in space at a certain distance in orbit? If space has no atmosphere or matter to thrust off of, how can you stop a satellite at the appropriate distance and achieve the same speed as orbit of earth?
First point. You not believing it's possible is not proof that it isn't.
Second point. You are correct there is no atmosphere there. Doesn't matter, actually helps since atmosphere causes friction and drag. The problem here is that you are confusing thrust with lift.
An airplane can fly because the wing interacts with the air and causes lift. If the amount of lift exceeds the force of gravity the plane climbs. A pilot keeping a plane in level flight has done so by finding the balance point where lift up balances the pull of gravity down.
Thrust in a spacecraft or rocket doesn't require lift or atmosphere. A rocket carries fuel and oxidizing agents. These are combined and burned. The expanding gas is expelled from one end of the rocket creating a reaction in the opposite direction. (Newton's 3rd law).
How do they get it in the exact spot to stay over the same spot on the surface of the Earth? At a high level, it can be described easily. To maintain an orbit, (not falling back or speeding away) there is a basic formula which gives the relationship between the distance from the Earth and how fast the object must orbit. The lower the orbit, the faster the orbit. So you just have to provide enough life to get it to the point where the speed of the orbit matches the ground rotational speed of the Earth's surface.
Obviously that is a very high level description, and it is much easier to describe that to do. But smart people know how to do the math and science to make it work. And thanks to their efforts we get communication satellites, satellite TV and radio, etc.
The stationary orbits are very high, something around 25k miles. Have you ever seen a TV interview over satellite where it is obvious that there is a lag between the one person speaking and the other answering? That's because those satellites are far enough away so that the speed of light becomes a factor.