|Bid||1.6800 x 45100|
|Ask||1.7000 x 29200|
|Day's Range||1.6800 - 1.7700|
|52 Week Range||0.2900 - 2.9800|
|Beta (5Y Monthly)||0.04|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov. 04, 2021 - Nov. 08, 2021|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||2.35|
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).
Shares of satellite communications company Globalstar (NYSEMKT: GSAT), which took off last month on speculation that Apple (NASDAQ: AAPL) might build satellite telephony capability into its new iPhone 13 smartphone -- doubling Globalstar's stock price in less than a month's time -- came crashing back to Earth on Tuesday. As of 3:15 p.m. EDT, Globalstar stock is down 21%. As the theory went, you see, Apple was gearing up to announce new features and capabilities of this year's iPhone iteration, the iPhone 13.
Shares of Globalstar (NYSEMKT: GSAT) gave up substantial ground today. The satellite technology company's share price closed Monday's trading session down roughly 12%. The pullback may also have something to do with newly proposed tax increases from Democrats in the House of Representatives.