Jim Cramer on Globalstar: "It's Finally Breaking Out"

Globalstar, Inc. (NASDAQ:GSAT) is one of the stocks Jim Cramer recently discussed. During the lightning round, a caller asked for Cramer’s thoughts on the stock, and he commented:

“I have to admit, I have waited for this to happen, and it’s finally breaking… It’s finally breaking out.”

Globalstar, Inc. (NASDAQ:GSAT) delivers mobile satellite services and equipment supporting voice, data, IoT connectivity, and asset tracking across industries such as government, energy, transportation, and emergency response. The company provides SPOT family of devices, commercial IoT solutions, satellite transmitter modules, and network engineering services.

On September 15, the company announced plans to activate its HIBLEO-XL-1 satellite system, filing to advance its expansion into next-generation mobile satellite connectivity. The company is investing $1.5 billion in its third-generation C-3 system to improve global communications with additional satellites, orbital shells, and frequency bands to strengthen reliability and reach.

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Disclosure: None. This article is originally published at Insider Monkey.