Benzinga | Sep 8, 2021 10:51AM EDT

Why Globalstar Shares Are Rising

Globalstar, Inc. (NASDAQ:GSAT) shares are trading higher by 10.6% at $2.30 as traders circulate an FCC Permit showing Apple as one of the company's customers.

Globalstar is trading higher by 14.4% over the past five sessions and 62% over the past month amid increased interest in the retail investor space.

Globalstar is a telecommunications company that derives revenue from the provision of mobile satellite services. Mobile satellite services are typically used by customers where existing terrestrial wireline and wireless communications networks are impaired or do not exist.

Globalstar has a 52-week high of $2.98 and a 52-week low of $0.29.