Over 1 Year Ago
2 Min Read
Shares of GSAT are trading -5% lower today. Price whipsawing after news of Apple satellite deal
Shares of Globalstar (GSAT) are trading -5% lower at a price of $1.94 at the time of this writing. The stock is underperforming peers on a dispirited day for the Communication Services sector.
-Yesterday, the company announced a deal with Apple for emergency communications.
-The deal is for Apple to use Globalstar's satellite technology in its iPhone 14 to provide emergency calling and texting capabilities.
Globalstar has been trading between a 52-week high of $2.98 and a 52-week low of $0.9025. The stock has a market cap of $3.37 Billion.
Globalstar is a leading provider of customizable Satellite IoT Solutions for customers around the world in industries such as oil and gas, transportation, emergency management, government, maritime and outdoor recreation. A pioneer of mobile satellite voice and data services, Globalstar solutions connect people to their devices and allow businesses to streamline operations providing safety and communication and enabling mobile assets to be monitored remotely via the Globalstar Satellite Network. The Company's Commercial IoT product portfolio includes industry-acclaimed SmartOne asset tracking products, Commercial IoT satellite transmitters and the SPOT® product line for personal safety, messaging and emergency response, all supported on SPOT My Globalstar, a robust cloud-based enhanced mapping solution.
As you can imagine, the internet had a few things to say about the price move. Here's a few choice comments from the Reddit Traderverse™:
JonIceEyes - 28 upvotes - source
If it was you posting on this stock about a week ago, thank you! Convinced me to dump my BBBY and grab GSAT. Might make my losses back if we're lucky (350 @ 2.05)
adamant628 - 20 upvotes - source
Some crude DD with no conclusion: As of the last quarterly report, GSAT has 762,000 subscribers with about $33M in service revenue/quarter. They have many levels of service depending on the device (voice \[$100/mo\], text only \[$18/mo\], beacon only\[
jer72981m - 17 upvotes - source
GSAT will be $5 in 16 days
idk88889 - 16 upvotes - source
In case you're new to the world, this is a brand new technology for cell phones and requires a massive payment to the provider. Gsat is the provider and is allocating 85% of current and future capacity of their constellation to apple in order to make this happen. In their 8k there is a 55% margin on this service and apple has to pay 95% of approved capital expenditures for future network creation So to answer it quickly: gsat is printing money from this deal
equilateral_pupper - 13 upvotes - source
i love that nobody here is trading aapl. everyone way more into gsat
Ibelieve27 - 13 upvotes - source
I bought calls, so the news will be bad and the market will tank. Edit: bought both AAPL and GSAT calls. So one winner and one loser. Washout, yay me.
hocuspotusco - 12 upvotes - source
$GSAT files 8-K confirming Apple partnership https://marketnewswire.live/index.php/2022/09/07/8-k-other-events-reg-fd-globalstar-inc-0001366868-september-07/
animositisomina35 - 12 upvotes - source
Unhalt GSAT damn it.
Shdwrptr - 12 upvotes - source
GSAT has been on again off again for a long time and is up 100% YoY. This news has been priced in already and was sell the news. It MAY get back up to $3/share sometime in the next few months but unless they are getting bought out then the run up is over
scogin - 11 upvotes - source
GSAT halted, Nancy is buying calls
-Yesterday, the company announced a deal with Apple for emergency communications.
-The deal is for Apple to use Globalstar's satellite technology in its iPhone 14 to provide emergency calling and texting capabilities.
Globalstar has been trading between a 52-week high of $2.98 and a 52-week low of $0.9025. The stock has a market cap of $3.37 Billion.
Globalstar is a leading provider of customizable Satellite IoT Solutions for customers around the world in industries such as oil and gas, transportation, emergency management, government, maritime and outdoor recreation. A pioneer of mobile satellite voice and data services, Globalstar solutions connect people to their devices and allow businesses to streamline operations providing safety and communication and enabling mobile assets to be monitored remotely via the Globalstar Satellite Network. The Company's Commercial IoT product portfolio includes industry-acclaimed SmartOne asset tracking products, Commercial IoT satellite transmitters and the SPOT® product line for personal safety, messaging and emergency response, all supported on SPOT My Globalstar, a robust cloud-based enhanced mapping solution.
As you can imagine, the internet had a few things to say about the price move. Here's a few choice comments from the Reddit Traderverse™:
JonIceEyes - 28 upvotes - source
If it was you posting on this stock about a week ago, thank you! Convinced me to dump my BBBY and grab GSAT. Might make my losses back if we're lucky (350 @ 2.05)
adamant628 - 20 upvotes - source
Some crude DD with no conclusion: As of the last quarterly report, GSAT has 762,000 subscribers with about $33M in service revenue/quarter. They have many levels of service depending on the device (voice \[$100/mo\], text only \[$18/mo\], beacon only\[
jer72981m - 17 upvotes - source
GSAT will be $5 in 16 days
idk88889 - 16 upvotes - source
In case you're new to the world, this is a brand new technology for cell phones and requires a massive payment to the provider. Gsat is the provider and is allocating 85% of current and future capacity of their constellation to apple in order to make this happen. In their 8k there is a 55% margin on this service and apple has to pay 95% of approved capital expenditures for future network creation So to answer it quickly: gsat is printing money from this deal
equilateral_pupper - 13 upvotes - source
i love that nobody here is trading aapl. everyone way more into gsat
Ibelieve27 - 13 upvotes - source
I bought calls, so the news will be bad and the market will tank. Edit: bought both AAPL and GSAT calls. So one winner and one loser. Washout, yay me.
hocuspotusco - 12 upvotes - source
$GSAT files 8-K confirming Apple partnership https://marketnewswire.live/index.php/2022/09/07/8-k-other-events-reg-fd-globalstar-inc-0001366868-september-07/
animositisomina35 - 12 upvotes - source
Unhalt GSAT damn it.
Shdwrptr - 12 upvotes - source
GSAT has been on again off again for a long time and is up 100% YoY. This news has been priced in already and was sell the news. It MAY get back up to $3/share sometime in the next few months but unless they are getting bought out then the run up is over
scogin - 11 upvotes - source
GSAT halted, Nancy is buying calls
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