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Why Globalstar Stock Skyrocketed Today

TheMotleyFool

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Shares of Globalstar, Inc. (NYSEMKT: GSAT) spiked again today after the company's stock received a buy rating from B. Riley analyst Mike Crawford yesterday.

The tech stock jumped by as much as 23% today and had gained 21.8% as of 3:45 p.m. EDT.

Crawford published his research note yesterday, putting a $3.25 price target on the stock -- more than double its share price at the time -- and said that the company is "at long last starting to realize a return" on its satellite and spectrum assets.

Source Fool.com

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