Paul Jacobs, Globalstar CEO and Sacramento Kings minority owner and vice chairman, joins 'Squawk Box' to discuss the move from the NYSE to Nasdaq, state of satellite connectivity on smartphones, impact of AI in the communications sector, valuations in the NBA, his thoughts on the Luka Doncic trade, and more.
If you caught last night's football game, perhaps you noticed the multiple advertisements run by T-Mobile US (TMUS 2.59%) touting the company's offer to let anyone in the U.S. -- not just its own customers -- participate in its new direct-to-cell (DTC) collaboration with SpaceX's Starlink service.
AST SpaceMobile (ASTS -11.52%) stock crashed to Earth on Wednesday, falling 9.3% through 9:55 a.m. ET, while rival satellite company Globalstar (GSAT -20.94%) lost a staggering 27% of its market cap.
Globalstar's partnership with Apple cements Globalstar as a leader in the sector. Band n53 is potentially worth $6-$13.8 billion, highlighting Globalstar's significant undervaluation compared to its current market cap. The IoT segment offers high-margin growth opportunities with minimal additional CapEx, supported by increasing demand for remote asset monitoring.
Globalstar and Peiker Holding Gmbh team up to integrate satellite-based emergency services and telematics features into vehicles.
At the Investor Day 2024 event, Globalstar shared a roadmap for its future growth by capitalizing on its core assets and provided updated financial outlook.
Globalstar's Band 53 Spectrum offers reliability, extensive coverage and flexibility, ideal for fixed wireless, IoT, autonomous vehicles and enterprise operations.
GSAT's first 5G call on Band n53 delivers unmatched speeds, setting new standards for secure, high-capacity connectivity in critical applications.
Paul Jacobs, Globalstar CEO, joins 'Closing Bell Overtime' to talk its partnership with Apple, where it sees growth opportunity, and more.
Globalstar's extended agreement with Apple is projected to double annual revenues and improve profitability margins. I expect the Nasdaq uplisting in Q1 2025, accompanied by a reverse stock split, to attract more institutional investors. I see potential in the IOT segment, which could leverage up to 15% of the new MSS network capacity for IOT applications in a rapidly expanding market.
The Zacks Satellite and Communication industry participants like Globalstar (GSAT), Iridium (IRDM) and Telesat (TSAT) are well-poised to gain from increasing proliferation and cheaper access to space technology.
Globalstar NYSEAMERICAN: GSAT is a stock that had fallen by the wayside for many investors throughout 2024, until recently. Shares were down 45% through the end of October.