Globalstar: Apple's Satellite Service Expansion And Nasdaq Uplisting Could Launch This Stock Into Orbit
Summary
- Globalstar's extended agreement with Apple is projected to double annual revenues and improve profitability margins.
- I expect the Nasdaq uplisting in Q1 2025, accompanied by a reverse stock split, to attract more institutional investors.
- I see potential in the IOT segment, which could leverage up to 15% of the new MSS network capacity for IOT applications in a rapidly expanding market.
- Despite most profitability metrics lagging behind peers and current high valuation ratios, I believe this stock offers an asymmetric risk to reward opportunity. Therefore, I rate it as a strong buy.
Analyst’s Disclosure: I/we have a beneficial long position in the shares of GSAT either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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