How Globalstar, Inc. Stock Fell 15.1% in September
Shares of Globalstar (NYSEMKT: GSAT) fell 15.1% in September 2017, according to data from S&P Global Market Intelligence. The price drop started when the provider of satellite-based voice and data communications services filed a response to the WiMAX Forum's petition for approval of a new wireless network for air-traffic-control systems.
The so-called AeroMACS system is meant to standardize the way traffic controllers communicate with aircraft and other important connection points, adding broadband data capacity and better error correction to the process. But the wireless spectrum bands allocated to this system, which has not yet been approved by the Federal Communications Commission, sit close to Globalstar's licensed spectrum bands and in some cases overlap with them.
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Source: Fool.com