Apple Satellite Partner Anticipation... Hidden Beneficiary Stock Surges 1.8 Trillion Won in a Day

Globalstar Inc. (NASDAQ: GSAT) surged 12.95% on the Nasdaq, closing at $69. Its market capitalization climbed to approximately $8.87 billion (about ₩12 trillion), a one‐day increase of roughly $1.32 billion (₩1.8 trillion). Trading volume was about 1.88 million shares.

In November 2024, Globalstar expanded its satellite services agreement with Apple, securing a commitment of up to $1.5 billion (around ₩2 trillion) from Apple, which includes an $1.1 billion infrastructure prepayment and a $400 million equity investment. In February 2025, the company plans to implement a reverse stock split and transfer its listing from the NYSE American to the Nasdaq Global Select Market to attract institutional investors.

Globalstar is a U.S. satellite communications provider offering satellite and terrestrial infrastructure based on its low‐Earth‐orbit satellite network, 5G Band 53 spectrum, and IoT terminals. In 2022, Apple adopted Globalstar’s network for the satellite-based Emergency SOS feature introduced on the iPhone 14 series, and has since extended the service to all iPhone models from the iPhone 14 onward.