Globalstar stock jumps 2% on insider buying

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Globalstar($NYSEAM:GSAT) stock has jumped 2% in response to insider buying. Director and 10% stakeholder James Monroe III on Monday bought 100,000 shares indirectly through Thermo Properties, at an average price of $1.8329. This is the latest in a series of filings indicating insider buying in the stock. Globalstar is a provider of mobile satellite voice and data communications services. The company has been struggling in recent years, but the insider buying indicates that management believes the company is undervalued and has potential for turnaround.

Share Price

On Wednesday, shares of Globalstar Inc opened at $1.8 and closed at $1.8, up by 4.5% from the previous day’s closing price of $1.8. The stock’s surge was driven by insider buying. This move comes as the company plans to spin off its satellite business into a separate publicly traded entity. Globalstar shares have been volatile in recent months, but the company’s strong fundamentals and growing satellite business could make it a long-term winner.

VI Analysis

If you’re looking for a company with long-term potential, you’ll want to focus on its fundamentals. The VI app makes it easy to analyze a company’s financial and business health. According to VI’s Risk Rating, GLOBALSTAR is a medium-risk investment. This means there are potential risks in the company’s financial and business areas that you should be aware of. You can find more information about these risks on our website.

Summary

Globalstar is a satellite communications company that provides voice and data communication services. This buying activity indicates that insiders believe that the stock is undervalued and that the company has good prospects for the future. Globalstar’s stock price is likely to continue to rise in the future as the company’s business continues to grow.