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Why Globalstar Stock Soared Higher in February

Lou Whiteman, The Motley Fool
·2 min read
Why Globalstar Stock Soared Higher in February
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Shares of Globalstar (NYSEMKT: GSAT) rocketed 68.6% higher in February, according to data provided by S&P Global Market Intelligence, after the satellite communications company announced a series of developments that might help it to unlock some of the potential value in its assets. Globalstar operates a constellation of satellites designed for satellite phone and data communications. The stock pushed higher in February after the company announced that Qualcomm (NASDAQ: QCOM) had included the radio frequencies it owns in its new modems.