Satellite Communications Company Globalstar Listed on Nasdaq on Tuesday after leaving the New York Stock Exchange.
“We did a reverse spin-off – we were a multi-billion dollar company, but our stock price fell in the dollar,” CEO Paul Jacobs told CNBC’s Paul Jacobs. Becky Quick exist”Squawk Box. “People think we are stocks that are a penny and some investors can’t invest in us, so we’re here to live with it. ”
Jacobs and Globalstar also turned on the bell on the Nasdaq Tuesday morning. The stock rose more than 10% in midday trading.
“Most of the companies I’m involved in are technology innovators, they’re on Nasdaq,” Jacobs said.
Globalstar signed $1.5 billion deal In November apple In November, funding for the expansion of iPhone services. In 2022, Globalstar launches Features of iPhone This causes emergency satellites to send text messages.
Satellite provider also signed $1.1 billion deal On Monday, with MDA Space, the latter company became the main contractor for Globalstar’s next-generation low-Earth orbit constellation.
The company is working on enabling satellite features that enable customers to use their phones in areas where there is no mobile service, and this move can also be done Chase Combined T-Mobile.
“We’ve been working on satellites,” Jacobs said. “We’ve been there for a while.”
Jacobs added that pricing for clients’ joint ventures remains an “unproven business model” as these companies continue to optimize their customer needs.
NBA
Jacobs, the Sacramento Kings vice president, said he also saw a lot of investment into the National Basketball Association as valuations continue to increase.
“The product is very good,” Jacobs said. “And we have opened it up to more investors too – the funds can be invested now.”
Jacobs said the Sacramento Kings also had a chance to get basketball star Luca Doncic earlier, but eventually crossed the players, and the deal with the Los Angeles Lakers made a sensation in the sports industry.
“I think the NBA is in a good position,” he said. “You never know how it develops. I obviously won’t sit here and say I can predict the future perfectly, but the NBA is in a good position.”
