5 New Reddit WallStreetBets Stocks On the Rise

2. Globalstar, Inc. (NYSE: GSAT)

Number of Hedge Fund Holders: 11 

Percentage Gain in Past Five Days: 46.59%

Globalstar, Inc. (NYSE: GSAT) is placed second on our list of 10 new Reddit WallStreetBets stocks on the rise. The firm markets mobile satellite services and is headquartered in Louisiana.

On June 21, investment advisory B Riley initiated coverage of Globalstar, Inc. (NYSE: GSAT) stock with a Buy rating and a price target of $3.25, noting that 2021 was an exciting time to buy the shares of a company that was on a growth trajectory. 

At the end of the second quarter of 2021, 11 hedge funds in the database of Insider Monkey held stakes worth $166 million in Globalstar, Inc. (NYSE: GSAT), up from 10 in the previous quarter worth $163 million.