Globalstar, Inc (GSAT) enjoyed a 3.91% upswing in its share price, sitting at USD$1.33 a share as of the market closing on April 9th, 2021. Compared to its 52-week high of USD$2.98 per share in February, it has seen a significant fall since. However, it is still up in 2021 from a largely stagnant few years.
Top 5 Cheap Stocks to Own Right Now
While finding safe stocks with the potential for monster gains isn't always easy, we've found a few that could pay out well. In fact, within our report, "Top 5 Cheap Stock to Own Right Now", we have identified five stocks we believe could appreciate the most even if you just have $1,000 to invest.
Sign up here to get your free report now. .
The spike in February followed the announcement that the telecommunications giant Qualcomm would be incorporating Globalstar’s Band n53 in its primary 5G modem, the new Snapdragon X65. With the world hurtling towards 5G connectivity, this was a highly promising development. With this collaboration, more devices will be able to connect to GSAT’s 5G network.
Effects of Developments
In an effort to further capitalize on the monetization of its 5G network, GSAT and XCOM Labs entered a strategic partnership with the aim to drastically improve GSAT’s 5G network’s capacity. Despite these developments setting the stage for the propulsion of their business, GSAT has seen a pullback that spanned February and March of 2021. Investors are hopeful that April uptrends will be sustained and usher in hitherto unseen opportunities for Globalstar.
A Competitive Edge?
With the world on the verge of 5G connectivity, many competitors’ satellite constellations are being launched. GSAT’s LEO system offers wide-scale, low-cost connectivity beyond the scope of terrestrial wireless connections. Other competing networks generally suffer in regard to the mobility of hand-held devices because of the use of higher frequency spectrum bands.
Poised to Succeed?
What further sets GSAT apart from its competitors is that it is already available, while others are still getting set up. GSAT is also already adding to its consumer and industrial users and subscribers that will expand the reach of Globalstar’s low band, power and price connectivity.
Faith in the company is highly commensurate with faith in the 5G telecommunications sector as a whole. GSAT is working on reducing the risk reflected in its balance sheet in the hopes of elucidating developments and where the company is headed for its current and potential investors. They seem confident that they are appropriately situated to see 2021 prove to be a game-changing year that will cement the company’s profitability over the course of its future.