Globalstar, Inc. GSAT shares are trading lower by 17% at $1.95 amid profit-taking after the stock gained Monday following a report Apple will add satellite capabilities to iPhones for usage in emergencies.
Globalstar shares were trading higher Monday following a note sent out by analyst Ming Chi-Kuo that the technology giant could partner with Globalstar on bringing low-earth-orbit satellite communications functionality in the iPhone 13.
Globalstar is a telecommunications company that derives revenue from the provision of mobile satellite services. The company provides communications services such as two-way voice and data transmission.
Globalstar has a 52-week high of $2.98 and a 52-week low of $0.29.
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