Traders Passing Around Report Height Analytics Suggesting 'No Evidence' FCC Commissioner Jessica Rosenworcel Voted Against Satellite Spectrum Deal with Globalstar
VOLUME 27.03mil shares, +786% compared to typical daily volume over the past 6 months.
High Volume alert!
Typical daily volume is 3.05mil shares over the past 6 months.
Globalstar soared 35% after the satellite company said that the Federal Communications Commission had been in contact with it. According to Globalstar's release, the FCC's Office of the Chairman said that an order has been circulated in advance of anticipated action from the full commission regarding the authorization of the company's Terrestrial Low-Power Service.
The service, also known as TLPS, has been pending before the FCC since late 2012, and Globalstar believes that TLPS can get five times the distance and four times the throughput of public Wi-Fi systems. With an order expected soon, today's jump indicates the hope among shareholders that a positive resolution to the long-standing issue could be imminent.
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