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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT
GSAT 55.17-5.5%2:23 PM EST
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To: djane who wrote (5320)6/23/1999 2:21:00 PM
From: trenzich  Read Replies (1) of 29987
 
NEW YORK, June 23 /PRNewswire/ -- The following articles are now available exclusively on Business Week Online's Daily Briefing (http://www.businessweek.com/today.htm). Business Week is a division of The McGraw-Hill Companies:

As Iridium Stumbles, Globalstar May Be Set to Soar

(http://www.businessweek.com/today.htm)

This was supposed to be the year of the mass-market satellite phone.

Thanks to its newly launched 66-satellite constellation, Iridium (IRID)

was able to roll out the first handheld satellite phone for the public

at the end of 1998. But Iridium has spent the last six months doing a

demo on how not to launch a consumer product. As a result, its stock

price has dropped from an all-time high of $61.62 to its current $10.31,

and the company's financial woes are mounting with every orbit. At the

same time, the stock of Iridium's main competitor, Globalstar

Telecommunications (GSTRF), is grounded for now. But that could soon

change.
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