Globalstar, Inc. (NYSE:GSAT) shares, which spiked to $2.78 in early September, have made a move lower. The stock was locked in the $1.43-$1.67 range for the month-to-date period.
On Wednesday, the stock broke above the range and traded as high as $1.83, its highest level since Sept. 23.
Rumors that Apple will announce a satellite service at the event fueled the stock advance.
Subsequently, reports suggested that Globalstar's technology will not be included in the iPhone 13 models, sending its shares lower. Apple had signaled that such a service may not be used in iPhones, except in an emergency response capacity.
GSAT Price Action: Globalstar shares were up 4.43% at $1.65.
Related Link: Why Globalstar Shares Are Rising
© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
To add Benzinga News as your preferred source on Google, click here.
