Globalstar, Inc. (OTCMKTS:GSAT) Holds Fast

The last few months have been good to Globalstar, Inc. (OTCMKTS:GSAT) shareholders. The stock’s price attempted recovery once in early 2013, breaking through $0.50 per share but was soon pressured down to the thirties range. However, the strong price rally that started in May is still going and showing signs of resistance.

Globalstar is a company whose main focus are satellite communications and data services. The February surge of GSAT‘s stock price can largely be related to the announcement of the company launching its second-gen satellite constellation. The May surge that virtually continues today was driven by more positive news from the company, including the launch of their Spot Global Phone – a handheld satellite phone for use in areas with zero mobile operator coverage, which was met with mixed reviews.

The books of GSAT show significant revenues and assets of over $1 billion. The company still logs significant net loss as well, with the biggest culprit in the reports being amortization of the logically expensive complex technology.

The price climb started in May retraces into smaller, steadier dips, followed by new highs that match or exceed previous highs. Yesterday’s session looked like a continuation of this trend, with GSAT taking a couple of steps back from $0.68 per share in preparation for another attempt to run up the chart and mark a new high. Of course, the risks involved in chasing stocks are present here as well, so caution is advised.

Other stocks that moved a lot of dollar volume in yesterday’s session include Liberator Medical Holdings, Inc. (OTCBB:LBMH) seem to slowed their descent and are currently trading up in today’s session, after a significant drop. Xumanii, Inc. (OTCMKTS:XUII), a pump job nearly three months old now, regained a little of what was lost in Tuesday’s crash and closed nearly a quarter up.