Why Globalstar Stock Soared in June
Satellite communications specialist Globalstar (NYSEMKT: GSAT) has been a tough stock to love in recent years, with shares down more than 80% from mid-2017 through the end of last year. But the sentiment has changed for the better in 2021, and the shares climbed 11.3% in June, according to data provided by S&P Global Market Intelligence.
Globalstar is one of the original commercial satellite ventures, first launched in 1991 to provide high-speed space-based communications. The company has been through a lot of iterations, restructurings, and ownership shifts in the years since, but its business is still focused on selling capacity on its constellation of low-orbit satellites.
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Source Fool.com
