Globalstar Inc. (GSAT) had a rough trading day for Tuesday December 10 as shares tumbled 12.81%, or a loss of $-0.061 per share, to close at $0.42. After opening the day at $0.48, shares of Globalstar Inc. traded as high as $0.48 and as low as $0.40. Volume was 4.41 million shares over 4,754 trades, against an average daily volume of n/a shares and a total float of 1.45 billion.
As a result of the decline, Globalstar Inc. now has a market cap of $602.73 million. In the last year, shares of Globalstar Inc. have traded between a range of $0.73 and $0.29, and its 50-day SMA is currently $n/a and 200-day SMA is $n/a.
Globalstar Inc is a telecommunications company that derives revenue from the provision of mobile satellite services. Mobile satellite services are typically used by customers where existing terrestrial wireline and wireless communications networks are impaired or do not exist. The company provides communications services such as two-way voice and data transmission. In addition, one-way data transmission is also offered. Both services are offered using mobile or fixed devices. The company is an owner of satellite assets. The company generates the vast majority of its revenue within the United States.
Globalstar Inc. is based out of Covington, LA and has some 353 employees. Its CEO is David Kagan.
Globalstar Inc. is a component of the Russell 2000. The Russell 2000 is one of the leading indices tracking small-cap companies in the United States. It’s maintained by Russell Investments, an industry leader in creating and maintaining indices, and consists of the smallest 2000 stocks from the broader Russell 3000 index.
Russell’s indices differ from traditional indices like the Dow Jones Industrial Average (DJIA) or S&P 500, whose members are selected by committee, because they base membership entirely on an objective, rules based methodology. The 3,000 largest companies by market cap make up the Russell 3000, with the 2,000 smaller companies making up the Russell 2000. It’s a simple approach that gives a broad, unbiased look at the small-cap market as a whole.