15 Stocks That Took a Nosedive in January

6. Globalstar, Inc. (NYSE:GSAT)

30-day Decline as of February 3, 2025: 33.4%

Globalstar, Inc. (NYSE:GSAT) is a telecommunications company that provides reliable and portable satellite communication solutions allowing people to stay connected everywhere. The stock registered a 33.4% decline over the past 30 days, going from $2.2 to $1.47 apiece on February 3.

Shares of GSAT declined following AAPL’s decision to partner with SpaceX, expanding its usage of Starlink satellite internet service. Back in 2022, Apple partnered with Globalstar, Inc. (NYSE:GSAT) in 2022 in an attempt to utilize the company’s services for connectivity in remote areas for its iPhones.

While AAPL’s decision to onboard Starlink does not impact GSAT directly, analysts expect that AAPL may switch to Starlink entirely, leaving behind Globalstar, Inc. (NYSE:GSAT), explaining its decline. Despite the decline, analysts remain bullish on the stock with their median price target of $4.5 representing an upside of 197%.