Globalstar, Inc. (OTCMKTS:GSAT) On The Rise Again

Globalstar, Inc. (OTCMKTS:GSAT) started last week rather good, but things went quiet in the second half, as they registered lower amounts of traded stock and almost no percentile movement in price. This week commenced in a similar fashion, however, will it continue the same way.

GSAT‘s stock is just 2 cents away from breaching the $1 mark and all odds seem to be in their favor after the optimistic review that was posted on Seeking Alpha in Sunday, suggesting further business expansion and opportunities with big companies such as Amazon.com, Inc. (NASDAQ:AMZN).

This review helped GSAT‘s stock start the week strong as they gapped up and opened at $0.939 yesterday. As we can see from the intraday chart GSAT recorded heavy trading of their stock throughout the day, which intensified in the final hour and a half alongside the peak in price that reached as high as $1.02.

The huge amount of shares that was traded at this stage instantly pushed the stock’s value a bit lower and they managed to close the session, registering a 12% gain in price at $0.98 per share. The volume came at 8.5 million shares, that helped generate a trade value of $8.1 million, ranking the ticker in the top of the hottest stocks in terms of dollar volume.

The technology and services, which GSAT could provide to big companies such as Amazon, Google, Apple and Microsoft is what the review relies on and the main thing that is driving the stock’s price in an upward direction.

Let’s not forget that just like Affymax, Inc. (OTCMKTS:AFFY), GSAT were also delisted from the NASDAQ a while ago, but we can say that they are doing a bit better. However, there is still a risk that remains until any definitive news about the company’s state of the art network surface, so be sure to do your due diligence and weigh out the risks.

We can say that with the current financial situation, GSAT might have progress, but there are just so many variables at this moment that nothing is certain.

The other big winner in yesterday’s session was PacWest Equities, Inc. (OTCMKTS:PWEI), who gained 10% on quite a lot of traded shares that helped generate a trade value of $6.3 million.