What Happened?
Shares of satellite communications provider Globalstar (NASDAQ: GSAT) jumped 11.5% in the afternoon session after reports that SpaceX was preparing a massive IPO sparked excitement across the space sector.
The potential public offering for SpaceX seemed to lift investor interest in other space-related assets, including satellite and infrastructure companies. Adding to this momentum, Globalstar had recently posted record financial results. The company celebrated a 9% revenue increase in the previous year, reaching $273 million. Looking ahead, Globalstar provided an optimistic outlook for fiscal year 2026, targeting revenue between $280 million and $305 million, a figure that slightly surpassed market expectations. This positive forecast was supported by the company's ongoing global build-out of its ground infrastructure for next-generation satellite services.
The shares closed the day at $67.42, up 10.4% from previous close.
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What Is The Market Telling Us
Globalstar’s shares are extremely volatile and have had 47 moves greater than 5% over the last year. But moves this big are rare even for Globalstar and indicate this news significantly impacted the market’s perception of the business.
The biggest move we wrote about over the last year was 7 months ago when the stock gained 17.8% on the news that the company announced a significant expansion of its global ground infrastructure to support its next-generation mobile satellite network.
The telecommunications provider is adding new gateway infrastructure at its ground station in Greece, effectively doubling the size of the facility. This project is part of a substantial global expansion designed to support its third-generation C-3 mobile satellite system, which will include up to 90 new tracking antennas across approximately 35 gateways worldwide.
The company stated this represents a significant investment in the network's functionality and capacity, aiming to provide next-generation services to hundreds of millions of people globally. Investors are likely reacting positively to this step forward in enhancing Globalstar's satellite network capabilities.
Globalstar is up 5.1% since the beginning of the year, and at $67.28 per share, it is trading close to its 52-week high of $73.68 from December 2025. Investors who bought $1,000 worth of Globalstar’s shares 5 years ago would now be looking at an investment worth $3,227.
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