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Why Globalstar Stock Soared in June

Why Globalstar Stock Soared in June

Satellite communications specialist Globalstar (NYSEMKT: GSAT) has been a tough stock to love in recent years, with shares down more than 80% from mid-2017 through the end of last year. Globalstar is one of the original commercial satellite ventures, first launched in 1991 to provide high-speed space-based communications. In recent months, the company has become popular with the Reddit WallStreetBets community, and in June, B. Riley analyst Mike Crawford chimed in with an opinion that the stock was indeed underappreciated.