Daily Poll: I thought you had my back. Globalstar's stock takes a dive after Apple event.
Shares of $Globalstar(GSAT.US$ took an afternoon dive Tuesday, as investors expressed disappointment that $Apple(AAPL.US$ did not say its new iPhone 13s would support satellite communications.
The mobile satellite services company's stock sank 23.5%, after being down 5.3% just before the start of Apple's iPhone 13 launch event. The stock had rocketed 64.3% on Aug. 30, after the reports surfaced that Apple would work with Globalstar as it added satellite communications to its next iPhone. The stock had climbed another 14.5% from Aug. 30 to the five-year closing high of $2.69 on Sept. 8, before pulling back. The stock has still rocketed 442.9% year to date, while the $S&P 500 Index(.SPX.US$ has advanced 18.3%.
By the way, apple stock price usually went down after its launching events, and so did this time as usual. What a unsolved mystery.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
Read more
Comment
Sign in to post a comment
Moomoo Community Official Account
Bringing you insights, inspiration and the hottest content.
149KFollowers
1199Following
59KVisitors
Follow
Phyrevixen : Ok everyone is focused on aapl but didn’t anyone see the NASA deal they got this week? It’s not all fire and brimstone, don’t narrow your field of vision to just one possible avenue of rockettown.
xtrme28 : So sad
Popular on moomooOP Phyrevixen: I can't find any related news, can you provide a link?
cheez_lit : Apple’s stock price usually falls after the launch event, which is already a rule
Phyrevixen Popular on moomooOP: Let me have a look to see where I located it before! Stand by!
Phyrevixen Popular on moomooOP: Best I have right now - clearly mention of NASA but not in the same arena is satellite phones.
Popular on moomooOP cheez_lit: but why!?
Popular on moomooOP Phyrevixen: Thanks for your info, I'll keep an eye on it.
Phyrevixen Popular on moomooOP: The more eyes the better!
Phyrevixen : https://seekingalpha.com/news/3738055-globalstar-jumps-21-as-traders-circulate-apple-customer-rumor and here’s cut and paste if it’s behind a paywall For some of you.
Globalstar jumps 21% as traders circulate Apple customer rumor
Sep. 08, 2021 2:14 PM ETGlobalstar, Inc. (GSAT)By: Jason Aycock, SA News Editor11 Comments
Global Communication Network (World Map Credits To NASA)
imaginima/E+ via Getty Images
Globalstar (NYSE:GSAT) has risen 21% today off trader chatter suggesting that the company has Apple as a customer.
Share volume in GSAT is moving almost six times the daily average so far.
Chatroom traders are handing around an FCC experimental permit/license granted to Globalstar for the frequency of 2483.5 to 2500 MHz.
And various traders are suggesting that that frequency matches on supported by the custom Qualcomm X60 baseband chip set for use in the iPhone 13 (a chip that supports Globalstar's n53 band).
A submitted narrative with the filing, however, links it to the PTD-2 mission of the NASA Ames Research Center.
That project (Pathfinder Technology Demonstrator) is set to test the operation of novel CubeSat technologies in low earth orbit.
Talk of the new iPhone including satellite connectivity drove Globalstar to a 64% gain in one day last week, though a Bloomberg report that the new capability was emergency-only took it back down 15% the next day.
And the stock jumped anew last week after a filing indicated it drew an additional $37.5 million in advance payment from a customer.
View more comments...