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GSAT Stock: Why It Significantly Decreased Today

GSAT Stock: Why It Significantly Decreased Today
  • The stock price of Globalstar, Inc. (NYSEAMERICAN: GSAT) fell by over 22% today. This is why it happened.

The stock price of Globalstar, Inc. (NYSEAMERICAN: GSAT) fell by over 22% today. Investors have been responding negatively to what was not announced at Apple’s iPhone event today.


At the event, Apple did not discuss anything about satellite capabilities. Over the last couple of weeks, there was speculation that Globalstar’s technology would be integrated into the iPhone for making emergency phone calls in areas where there is a lack of network connectivity. 


The source of the rumor are sources with Ming-Chi Kuo in a note sent to investors seen by MacRumors. Kuo has been reliable about future Apple features in the past. Qualcomm has reportedly worked with Globalstar for supporting the n53 band in future X65 baseband chips.


Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.