Why Globalstar's Stock Is Trading Higher Today

Why Globalstar's Stock Is Trading Higher Today

Globalstar, Inc. GSAT shares are trading higher by 7.39% to $2.18 during Monday's session after Craig-Hallum initiated coverage on the stock with a Buy rating and a $5 price target.

Over the past 5 trading sessions, the stock has rallied approximately 23%. The company last week announced that it will hold an Investor Day on Wednesday, November 16 at 9:00 a.m. ET in New York City.

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The company says Globalstar's executive leadership team will present an overview of the Company's four pillars of value, including a discussion of its business, future strategies, and financial outlook followed by a live Q&A.

Globalstar Inc is a telecommunications company that derives revenue from the provision of mobile satellite services.

According to data from Benzinga Pro, Globalstar has a 52-week high of $2.98 and a 52-week low of $0.98.

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