10 Stocks with Potential to Rise 1000 Percent

8. Globalstar, Inc. (NASDAQ:GSAT)

Number of Hedge Fund Holders: 13

Globalstar, Inc. (NASDAQ:GSAT) is a satellite communications company that provides mobile voice and data services through a network of low Earth orbit (LEO) satellites. Its products include satellite phones, data modems, and IoT devices used for asset tracking, remote monitoring, and emergency communication in areas lacking cellular coverage. The company serves a range of industries, including energy, transportation, government, maritime, and agriculture. GSAT also offers terrestrial spectrum services using its Band 53/n53 spectrum, enabling private wireless networks. It has a notable partnership with Apple to support satellite-based emergency messaging features on select iPhone models.

Globalstar, Inc. (NASDAQ:GSAT) achieved strong financial performance in 2024, with total revenue increasing 12% to reach a record $250.3 million, exceeding guidance expectations. The company reported a record annual adjusted EBITDA of $135.3 million, representing a 16% YoY increase, with margins improving to 54% from 52% in 2023. Strategic developments included successfully uplifting to the NASDAQ Global Select Market and implementing a 1-for-15 reverse stock split to enhance stock liquidity and marketability. The company received significant investment from its wholesale customer, totaling $913 million, including cash payments of $689 million and in-kind asset contributions.

Looking ahead, Globalstar, Inc. (NASDAQ:GSAT) provided 2025 guidance, projecting revenue between $260 million and $285 million, representing 9% YoY growth at the midpoint. The company expects total revenue to double to $500 million during the first full year of service provided over the extended MSS network, with margins exceeding 54%. Notable operational progress includes the launch of two-way satellite Commercial IoT Solutions and the successful demonstration of a software-defined satellite communications solution with Parsons Corporation. The company’s spectrum position remains strong with unique L&S bands offering almost 4x the spectrum of any other D2D player. With 13 hedge funds owning the stock, GSAT is a stock that can go up 1000 percent.