Globalstar stock slid another 4.6% in premarket trading

Tiger Newspress2021-09-15

Globalstar stock slid another 4.6% in premarket trading after Apple didn't say its new iPhone supports satellite communications.

Shares of Globalstar Inc. tumbled 23.3% on Tuesday, as investors expressed disappointment that Apple Inc. did not say its new iPhone 13s would support satellite communications.

The stock had rocketed 64.3% on Aug. 30, after the reports surfaced that Apple would work with Globalstar as it added satellite communications to its next iPhone. The stock had climbed another 14.5% from Aug. 30 to the five-year closing high of $2.69 on Sept. 8, before pulling back. The stock has still rocketed 416.8% year to date, while the S&P 500 has advanced 18.3%.

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Comments

  • LeonardKSW
    2021-09-15
    LeonardKSW
    This is not a very good company but it is not a bad company too. It will go up higher for sure even without apple. It just take a longer time
  • Toh_Chris
    2021-09-15
    Toh_Chris
    Fake news was posted, greed caused fall. Sad! But is the truth. If you see value in the stock, don’t give up!
  • Linda1127
    2021-09-15
    Linda1127
    Oh no... disappointment drive the shares down.
  • breAkdaWn
    2021-09-15
    breAkdaWn
    Gsat doesn't need iPhone to get its price up. It can stand on its own merits. 
  • JLCH
    2021-09-15
    JLCH
    yo
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