The stock of Orbsat was worth $10.46 on July 6. Then it sank right the next day. As of July 7, the stock went down to $6.83, marking a full 34.7% drop. Since that day the stock was stable, and as the last trading session, the stock trades at $6.65. As of today’s pre-market session, the stock is going to jump by 50%.
Orbsat Corp., a global provider of satellite-based Internet of Things and connectivity solutions, today announced that its Global Telsat Communications unit has entered into an agreement to be a Gold- Supplier on the Alibaba.com e-commerce website. Alibaba.com is the world’s largest e-commerce platform with over 26 million active business partners in 190 different countries. It has a robust and growing database of over 340,000 product inquiries and 20,000 RFQ’s daily.
Through its launch on Alibaba.com, Orbsat is accelerating its global expansion plans and becoming the e-commerce platform of choice for enterprise customers globally. This will allow them to better serve their customers across the world. With the rapid growth of the global satellite communications market, Orbsat is positioned for significant opportunities to provide end-to-end connectivity solutions that include voice, data, and tracking and monitoring.
Finance and Entertainment Reporter
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