Globalstar Inc. (GSAT) Plunges 5.62% on January 18

Globalstar Inc. (GSAT) Plunges 5.62% on January 18

Globalstar Inc. (GSAT) had a rough trading day for Friday January 18 as shares tumbled 5.62%, or a loss of $-0.0391 per share, to close at $0.66. After opening the day at $0.71, shares of Globalstar Inc. traded as high as $0.71 and as low as $0.63. Volume was 1.97 million shares over 3,984 trades, against an average daily volume of 3.95 million shares and a total float of 1.27 billion.

As a result of the decline, Globalstar Inc. now has a market cap of $830.62 million.

The stock has a P/E Ratio of 17.4.

Globalstar Inc is a telecommunications company that derives revenue from the provision of mobile satellite services. Mobile satellite services are typically used by customers where existing terrestrial wireline and wireless communications networks are impaired or do not exist. The company provides communications services such as two-way voice and data transmission. In addition, one-way data transmission is also offered. Both services are offered using mobile or fixed devices. The company is an owner of satellite assets. The company generates the vast majority of its revenue within the United States.

Globalstar Inc. is based out of Covington, LA and has some 333 employees. Its CEO is David Kagan.

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