Why Globalstar Stock Popped Today

By Joe Tenebruso – Apr 2, 2026 at 7:33PM ESTKey PointsThe space race is heating up.Globalstar's assets are in high demand.Shares of Globalstar (GSAT +13.43%) jumped on Thursday, following reports that Amazon (AMZN 0.38%) is thinking about buying the mobile connectivity services provider. Image source: Getty Images. A race for space Amazon is ramping up Project Kuiper, its multi-billion-dollar plan to launch thousands of satellites into low Earth orbit in the coming years. It has deployed about 200 satellites to date. Amazon plans to offer satellite-delivered internet services as part of this project. That will place the e-commerce and cloud computing colossus in direct competition with SpaceX's popular Starlink. Amazon's Elon Musk-led rival already has over 10,000 satellites in orbit and 9 million customers. ExpandNASDAQ: GSATGlobalstarToday's Change(13.43%) $9.20Current Price$77.73Key Data PointsMarket Cap$8.8BDay's Range$72.50 - $78.3052wk Range$17.24 - $78.30Volume4.9MAvg Vol720KGross Margin32.79% Amazon is reportedly in talks to acquire Globalstar to strengthen its competitive position in this intensifying space race, according to the Financial Times.

The Financial Times noted that a deal may not be completed. Apple's 20% stake in Globalstar could be a sticking point, as it will likely make the discussions more complex. Closing the gap will be expensive Amazon has struggled to hit its launch targets, due partly to a shortage of available rocket capacity. In addition to partnering with companies like founder Jeff Bezos' Blue Origin, Amazon has been forced to pay SpaceX to launch some of its satellites. CEO Andy Jassy may be looking at a potential acquisition of Globalstar as a way to accelerate the expansion of Amazon's satellite constellation and reduce the strain on its launch partners. A deal, however, won't come cheap. Globalstar's market cap currently stands at about $10 billion.Read NextMar 14, 2026 •By Robert IzquierdoIs Globalstar Stock a Buy After Greenhouse Funds Added Over 75,000 Shares to Its Position?Mar 9, 2026 •By Eric TrieGlobalstar Draws Investor Interest as Satellite Networks Extend Connectivity Beyond Cellular CoverageApr 2, 2026 •By Keithen DruryNvidia's Blackwell and Rubin Chips Will Have $1 Trillion in Lifetime Sales.

What Does That Mean for Nvidia's Stock?Apr 2, 2026 •By Keithen DruryGot $1,000? 3 Unstoppable Tech Stocks to Buy and Hold Forever.Apr 2, 2026 •By Johnny RiceWhere Will CoreWeave Stock Be in 1 Year?Apr 2, 2026 •By Eric VolkmanWhy Viasat Stock Soared Almost 19% Higher TodayAbout the AuthorJoe Tenebruso is a contributing Motley Fool stock market analyst with more than 3,000 financial bylines to his name. Joe was an investment analyst for Stock Advisor, Income Investor, Crypto Society, and other top-rated investing services. He also managed Tier 1 Investments, a market-crushing real-money portfolio with 24.58% annualized returns. Joe graduated summa cum laude from Rutgers University with a Bachelor of Science in Finance.tmfguardianX@Tier1InvestorStocks MentionedGlobalstarNASDAQ: GSAT$77.73(+13.43%)+$9.20AmazonNASDAQ: AMZN$209.77(-0.38%)-$0.80AppleNASDAQ: AAPL$255.92(+0.11%)+$0.29*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.