Globalstar, Inc (NASDAQ:GSAT) saw its shares soar this morning up over 30% heading into midday trading, with a rise of over $.30 to $1.35 and nearly four times its daily volume traded. This rise is due in large part to the FCC News Globalstar, Inc received today.
The Federal Communications Commission (FCC) announced that Globalstar, Inc. will be allowed to operate its second-generation satellites within the boundaries of the United States. This authority will become effective once Globalstar Inc, completes registration of the new satellites in France.
Globalstar, Inc. has already launched six satellites for the second generation constellation and recently received six new satellites for an upcoming May launch date. After the May launch, Globalstar, Inc. is expecting two more launches each containing six satellites. These additional satellites within the current Constellation will provide improved coverage throughout the United States for Globalstar, Inc. customers.
About Globalstar, Inc.
Globalstar, Inc. provides mobile voice and data communications services through satellite in the United States and Canada. It provides duplex services comprising mobile voice and data satellite communications, satellite data modem, and fixed voice and data satellite communications services; and simplex services, including personal, asset tracking, and remote monitoring.