Satellite Communications Company GlobalStar It was listed on the Nasdaq on Tuesday after being listed on the New York Stock Exchange.
“We did a reverse split. We’re a multi-billion dollar company, but our stock prices were falling in the dollar-ish range,” CEO Paul Jacobs said on CNBC’s Becky Quick on I told Squawk Box. “And it’s like we’re here with that because people think of us as penny stocks and some investors couldn’t invest in us,” Jacobs added. I did.
Jacobs and the Global Star also rang the opening bell at the Nasdaq on Tuesday morning. The stock rose more than 10% in noon trading.
“Most of the companies I’m involved in are technological innovators and they’re in the Nasdaq,” Jacobs said.
GlobalStar signed a $1.5 billion deal in November apple Funding for the expansion of iPhone services. In 2022, GlobalStar deployed its functionality using the iPhone, which enables emergency satellite text messaging.
Satellite providers have also signed $1.1 billion deal On Monday, there was MDA space, making the latter company the leading contractor for Global Star’s next-generation low Earth Orbital constellations.
The company is working to enable satellite features that allow customers to use mobile phones in areas where there is no cell service. T-Mobile.
“We’re already working on satellites,” Jacobs said. “We’ve already been there for a while.”
He added that pricing for client ventures continues to optimize customer needs, so customer venture pricing continues to be a “unproven business model.”
NBA
Jacobs, who is also vice president of the Sacramento Kings of the National Basketball Association, said there will be a lot of investment in the NBA as ratings continue to increase.
“The product is very good,” Jacobs said. “And we’ve opened it up to more investors. The money can now be invested.”
Jacobs said that the Sacramento Kings had the opportunity to get basketball star Luka Donsic before, but ultimately handed over the player.
“I think the NBA is in a good position,” he said. “You don’t know what that will happen. I’m clearly not going to sit here and say you can fully predict the future, but the NBA is in a great position,” Jacobs added.
