"Shares in Globalstar, Inc. are rising today after a Financial Times report said the ecommerce giant Amazon was in talks to acquire the company. As of the time of this writing, GSAT shares are up nearly 14% to around $78 apiece-making it one of the only tech companies to see significant gains this morning in premarket trading."
"Globalstar is not a household name, but the company has been in operation for over 35 years. It is the operator of a network of low Earth orbit satellites that provide communication services to companies across industries, from defense to Big Tech."
Globalstar, Inc. shares increased nearly 14% following a report that Amazon is in talks to acquire the satellite communications company. The stock price rose to around $78, up from a previous close of $68.53, valuing the company at approximately $9 billion. Globalstar operates a network of low Earth orbit satellites providing communication services across various industries, including defense and technology. Despite not being widely recognized, the company has been operational for over 35 years and is now a potential acquisition target for Amazon.
Read at Fast Company
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