Here's Why Globalstar Stock Just Crashed 12%

Shares of Globalstar (NYSEMKT: GSAT) gave up substantial ground today. The satellite technology company's share price closed Monday's trading session down roughly 12%.

There doesn't appear to be much in the way of business-specific news driving the pullback, but growth-dependent tech stocks started the week off under pressure. With economic uncertainty on the horizon, it's not surprising to see Globalstar pull back a bit after an incredible recent winning streak. The pullback may also have something to do with newly proposed tax increases from Democrats in the House of Representatives. 

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Source Fool.com