10 Firms End Trading Week Defying Market Bloodbath

5. Globalstar Inc. (GSAT)

Shares of telecommunications company Globalstar (GSAT) rallied for a third day on Friday, ending the day up by 0.9 percent to $2.15 from $2.13 on Thursday.

Last week, its director James Monroe III also acquired a substantial amount of the company’s stock, purchasing a total of 1 million shares amounting to $1.94 million.

The company also recently held its Investor Day 2024 where it emphasized prospects by leveraging its core assets, expanding technological capabilities, and issuing robust financial targets.

In terms of financial performance, Globalstar (GSAT) reported a 25-percent increase in its revenues for the third quarter of the year, ending at $72 million.

The company also reiterated 2024 revenue guidance to be between $245-250 million with an Adjusted EBITDA margin of 54 percent. For 2025, the company projects revenues to hit between $260-285 million and an Adjusted EBITDA margin of approximately 50 percent.