Overview
- Globalstar fell about 5.7% to roughly $73.28, according to Benzinga Pro data.
- Shares had jumped last week after unconfirmed talk that Amazon could pursue the satellite operator.
- The stock eased off a recent 52-week breakout, with rallies stalling near $75 and first support near $73.50.
- Investors are eyeing an estimated May 7 earnings report as the next catalyst, with forecasts calling for a 1 cent loss on about $70.6 million in revenue.
- Amazon is targeting roughly 1,600 satellites in orbit by mid-2026, a plan that gives the takeover speculation strategic context.