GSAT - Communications stocks gain for week though AMC takes a breather in stellar 2021

Communications services stocks gained on a broadly higher week for the markets, though it fell into the middle of the pack among sectors: rising 2.4%, better than a fractional gain for utilities, but not gaining quite as well as energy stocks that had a strong week. "Offline-to-online" social media services/marketing provider Moxian was the top gainer, with a double-digit decline Friday only taking a bit of edge off a week where it rose 74%. The stock has risen 20-fold over the past year and has been making double-digit moves on several days this year, despite meager operations and just a few million dollars in cash as assets. And Globalstar moved sharply higher on three of its five trading sessions this week, after starting out with a bullish cheer from B. Riley FBR, which initiated coverage with a Street-high price target that implied 152% upside. Over on the losers' side: Always-interesting

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Communications stocks gain for week, though AMC takes a breather in stellar 2021