GSAT Stock Recent News

Shares of Globalstar Inc. GSAT charged 6.9% higher in morning trading Wednesday, after the telecommunications connectivity company announced a financing deal that didn't include equity. The stock's gain comes a day after it rose 2.3%, to bounce off Monday's 13-month closing low of 99 cents.

News of a big pile of funds coming in lights up the company's shares just before the latest quarterly earnings release.

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This segment originally aired on November 10, 2022. Globalstar CEO David Kagan joins Yahoo Finance Live anchor Rachelle Akuffo to discuss Apple's investment in Globalstar for its Emergency SOS.

Apple isn't taking an equity stake in the company but it is committing to spend money for equipment and the service's operations.

In October, Globalstar analysts were excited about the long-term profit potential of Apple's satellite phone service.