Advertisement
Canada markets closed

  • S&P/TSX

    21,873.72
    -138.00 (-0.63%)
     

  • S&P 500

    5,071.63
    +1.08 (+0.02%)
     

  • DOW

    38,460.92
    -42.77 (-0.11%)
     

  • CAD/USD

    0.7301
    +0.0003 (+0.04%)
     

  • CRUDE OIL

    82.72
    -0.09 (-0.11%)
     

  • Bitcoin CAD

    88,368.26
    -3,077.34 (-3.37%)
     

  • CMC Crypto 200

    1,393.47
    -30.63 (-2.15%)
     

  • GOLD FUTURES

    2,330.20
    -8.20 (-0.35%)
     

  • RUSSELL 2000

    1,995.43
    -7.22 (-0.36%)
     

  • 10-Yr Bond

    4.6520
    +0.0540 (+1.17%)
     

  • NASDAQ futures

    17,482.50
    -182.00 (-1.03%)
     

  • VOLATILITY

    15.97
    +0.28 (+1.78%)
     

  • FTSE

    8,040.38
    -4.43 (-0.06%)
     

  • NIKKEI 225

    37,915.65
    -544.43 (-1.42%)
     

  • CAD/EUR

    0.6816
    -0.0003 (-0.04%)
     

Why Globalstar Stock Bounced Today

Rich Smith, The Motley Fool
·2 min read
Why Globalstar Stock Bounced Today

Shares of satellite communications company Globalstar (NYSEMKT: GSAT) crashed 21% yesterday after it became apparent that Apple's (NASDAQ: AAPL) new iPhone 13 will in fact not enable users to call each other via satellite. In the absence of any actual "good" news to explain the stock's bounce higher, I can only surmise that what we're looking at today is a "dead cat bounce." The way they would have placed that bet would have been by shorting Globalstar stock (i.e., selling stock they did not own, in hopes of buying it back later, cheaper, and returning the shares to their rightful owners).

Continue reading