On Monday NYSE: GSAT rose 39.86% to $0.4302, additionally increasing its daily volume to 118,884,009 shares. Before the market open, GSAT surges 9.25% to $0.47. Why is it rising? Is there a genuine answer?
As many smartphone manufacturers upgrade to 5G connection, telecommunication companies are obliged to install 5G antennas to meet soaring demand from users. The most stable connection still comes from satellites that transmit data regularly.
Globalstar’s satellites and ground stations are empowering current telecommunications in the Americas and Europe. Its future expansion can already be seen to anyone who uses any kind of device that is backed by telecommunication operators who partner with Globalstar.
Before buying GSAT one should set short term strategy in making quick profits as the stock rises due to speculation.