Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why Globalstar Stock Plunged Today

TheMotleyFool

0 0

Shares of Globalstar (NYSEMKT: GSAT) fell on Friday, following bearish analyst remarks. As of 11:20 a.m. EST, the satellite communication specialist's stock price was down 15%.

Morgan Stanley analyst Simon Flannery cut his rating on Globalstar's stock from equal weight to underweight and placed a $0.55 price forecast on its shares. Flannery's price estimate implies a potential downside risk for investors of roughly 48% from the stock's current price near $1.06.

Globalstar's shareholders could suffer sizable losses, according to an analyst at Morgan Stanley. Image source: Getty Images.

Source Fool.com

Like: 0

GSAT

Share