Globalstar Inc (GSAT) Stock Soars Over 40% in a Month: Where Will it Stop?

Those who are on the lookout for stocks that might have made impressive gains over the course of the past few weeks could do well to take a look at the Globalstar Inc (NYSEAMERICAN:GSAT) stock. The Globalstar stock has been in the middle of a rollicking run over the course of the past month and managed to deliver gains of as much as 43% to its investors.

Last week, the company announced that it got into a partnership with FocusPoint International Inc. It is a major development for the company since that partnership is going to help with providing crisis assistance services to Globalstar customers across the world as part of the Global Overwatch & Rescue™ Plan.

The Overwatch and Rescue Plan that is provided by FocusPoint is a specialised service by way of which people are provided with considerable security assistance and travel medical benefits. In addition to that, those who choose the annual subscription plan are also entitled to no cost evacuations.

In addition to that, customers are also provided with around the clock crisis consultancy services in multiple languages, dental referrals, medical referrals and more. The partnership could well prove to be a considerable boost for Globalstar in the long run.

Market Reaction:

On Friday, GSAT stock ended flat at $1.70 with more than 8.31 million shares, compared to its average volume of 28.64 million shares. The stock had moved within a range of $1.6600 – 1.7300 after opening the trade at $1.70. Over the past 52-week, the stock has been trading within a range of $0.2900 – 2.9800.