Globalstar invests in Estonia: Satellite communications provider expands

Shares of the satellite communications company Globalstar rose by 4% after the company announced the start of the expansion of its ground station in Estonia. The aim of this project, which will involve an investment of approximately 9 million dollars, is to double the original capacity. Three new 6-meter antennas are to be added to support the third-generation C-3 mobile satellite system, further strengthening Globalstar's services in Northern Europe. This announcement follows other positive steps by the company, including the expansion of its ground station in Singapore and new government contracts that are expected to generate at least 60 million dollars in revenue over the next five years. After initially rising sharply, the shares stabilized at 37.60 dollars, reflecting a 4.3% increase compared to the previous closing price. This market reaction underlines the significance of the news, but it does not fundamentally change the assessment of the company. Recently, CNBC expert Jim Cramer mentioned Globalstar favorably, which caused the stock to increase by 8%. Globalstar plans to launch a new satellite system called HIBLEO-XL-1 to strengthen its position within the global space economy. The company has set ambitious goals and has already invested 1.5 billion dollars in a new satellite constellation to provide faster and more reliable service. Since the beginning of the year, Globalstar's stock has gained 18.2% and is approaching its 52-week high of 37.94 dollars. For investors who invested 1,000 dollars in Globalstar five years ago, their investment has multiplied to 7,958 dollars today.