A good summary of the recent share price volatility of Globalstar, Rocket Lab, and Astra Space following Apple’s announcement that they will be investing nearly half a billion in Globalstar (GSAT) for satellite connectivity in iPhones.
“Globalstar stock is still up about 17% since rumors the iPhone 13 would include satellite communications capability. The S&P 500 is down about 11% over the same span.”
“Confusion continues. Globalstar will be launching more satellites into low earth orbit, but stock in launch provider Rocket Lab USA was off about 3% in midday trading, but closed down 0.5%. Stock in launch provider Astra Space (ASTR) was down more than 5%, but closed down 0.4%.”
Barron’s: “Globalstar Sinks on Apple Deal. It’s a Case of ‘Buy the Rumor; Sell the News.’”
https://www.barrons.com/articles/globalstar-sinks-apple-deal-51662659637
