Moves in the satellite company's share price point to hope among investors that it could be poised for better times after years of struggling to turn a profit.
While it has operated a constellation of satellites for decades, Globalstar has struggled to turn a profit and rise above the level of a penny stock. Judging by moves in its share price, some investors think that could change.
Speaking with Barron’s on Thursday, Paul Jacobs said he was drawn to Globalstar by its combination of space and land wireless spectrum, a phone partnership it has with Apple , and its opportunities for linking vehicles and industry. Globalstar began in the 1990s as a joint venture between Qualcomm and the defense electronics firm Loral. Jacobs’ father placed the first phone call over the satellite network in 1998.
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