No connection

Search Results

Markets Score 45 Bullish

Globalstar Stock Surges 15% on Reports of Potential Amazon Acquisition

Apr 01, 2026 23:58 UTC
GSM, ^GSPC, ^VIX
Immediate term

Shares of Globalstar jumped over 15% in extended trading after reports surfaced that Amazon is considering acquiring the satellite communications company. A potential deal could strengthen Amazon's nascent internet-from-space service, Amazon Leo.

  • Globalstar's stock surged over 15% in extended trading following acquisition rumors.
  • Amazon is reportedly in talks to acquire Globalstar, though negotiations are ongoing.
  • Apple holds a 20% stake in Globalstar, which could complicate the acquisition.
  • Amazon's Amazon Leo service aims to provide internet-from-space and has launched 200 satellites.
  • Amazon has requested more time from the FCC to meet satellite deployment deadlines.
  • Globalstar had previously explored a potential sale with SpaceX.

Shares of Globalstar surged more than 15% in extended trading on Wednesday following reports that Amazon is in talks to acquire the satellite communications company. The Financial Times cited sources familiar with the matter, indicating that the companies are still negotiating the complexities of a potential deal. One complicating factor is Apple's 20% stake in Globalstar, acquired in 2024 as part of a $1.5 billion investment to enhance the company's satellite constellation and ground infrastructure. Amazon has not commented on the reports, and Globalstar representatives did not immediately respond to requests for comment. A potential acquisition could bolster Amazon Leo, the company's emerging internet-from-space service. Amazon has launched approximately 200 satellites into low Earth orbit since last April and aims to begin commercial service later this year. The company plans to build a constellation of around 7,700 satellites, although it has faced delays in meeting its deployment milestones. In January, Amazon requested additional time from the Federal Communications Commission to meet a deadline requiring the launch of roughly 1,600 satellites by July 2026. Amazon is competing with SpaceX's Starlink, which has a significant lead with over 10,000 satellites in orbit and more than 9 million users. Bloomberg previously reported in October that Globalstar was exploring a potential sale and had early discussions with Elon Musk's SpaceX.

Sign up free to read the full analysis

Create a free account to unlock full AI-curated market articles, personalized alerts, and more.

Create Free Account Already have an account? Sign In
Share this article

Related Articles

Score 95 Bearish

Trump's Iran Threats Spark 5% Surge in Brent Crude Prices

Apr 02, 01:49

Score 85 Bearish

Asia-Pacific Markets Reverse Gains Amid Trump's Iran War Address

Apr 02, 01:45

Score 95 Bearish

Stock Futures Tumble Amid Trump's Iran Remarks

Apr 02, 01:45

Score 85 Bearish

China Drains Cash From Economy in Rare Pullback During Oil Shock

Apr 02, 01:30

Stay Ahead of the Markets

Join thousands of traders using AI-powered market intelligence. Get personalized insights, real-time alerts, and advanced analysis tools.

Get Started Free View Plans
Features Terminal AI Assistant Analysis Market News Pricing
Start Trading with AI Already have an account? Sign In
Home
Terminal
AI
Markets
Profile