Why Globalstar Stock Popped Today, Then Dropped
Satellite communications stock Globalstar (NYSEMKT: GSAT) exploded higher in morning trading Wednesday, rising nearly 20% before the enthusiasm passed. As of 11:35 a.m. EST, Globalstar's gains have been pared to just 2.5%.
So who was right? The folks who bought Globalstar hand over fist early this morning, or the ones who are having second thoughts? Let's take a quick look at the news that catalyzed the rally and find out.
Image source: Getty Images.
Source Fool.com
