|Bid||1.5200 x 46000|
|Ask||1.5300 x 38800|
|Day's range||1.5000 - 1.5594|
|52-week range||0.2900 - 2.9800|
|Beta (5Y monthly)||0.11|
|PE ratio (TTM)||N/A|
|Earnings date||04 Nov 2021 - 08 Nov 2021|
|Forward dividend & yield||N/A (N/A)|
|1y target est||2.35|
Shares of Globalstar (NYSEMKT: GSAT) were rising today on seemingly no company-specific news. Rather, it appears that investors may be pushing up Globalstar's shares after Apple announced that it will hold a product event next week. The satellite service tech stock jumped by as much as 15.8% this morning, but had gained a much tamer 3.1% as of 11:32 a.m. EDT.
Investors need to pay close attention to Globalstar (GSAT) stock based on the movements in the options market lately.
Shares of satellite communications company Globalstar (NYSEMKT: GSAT) crashed 21% yesterday after it became apparent that Apple's (NASDAQ: AAPL) new iPhone 13 will in fact not enable users to call each other via satellite. In the absence of any actual "good" news to explain the stock's bounce higher, I can only surmise that what we're looking at today is a "dead cat bounce." The way they would have placed that bet would have been by shorting Globalstar stock (i.e., selling stock they did not own, in hopes of buying it back later, cheaper, and returning the shares to their rightful owners).