CA - Globalstar: Stock's 'Apple' Surge Is Fading
2024-02-06 18:31:42 ET
Summary
- Globalstar, Inc. stock had been surging, until recently, due to its agreement with Apple, leading to a projected 50% increase in revenue for FY23.
- The company offers satellite and terrestrial connectivity services, including wholesale satellite capacity, terrestrial wireless, commercial IoT, and legacy services.
- Despite the recent pullback in shares, Globalstar's stock has nearly doubled, and the company is moving towards breakeven due to the Apple collaboration.
- An analysis of Globalstar follows in the paragraphs below.
Globalstar: Stock's 'Apple' Surge Is FadingEarth is a small town with many neighborhoods in a very big universe ."? Ron Garan.