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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT
GSAT 62.82-0.7%3:59 PM EST
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To: Rocket Scientist who wrote (20729)1/2/2001 12:29:03 PM
From: Souze  Read Replies (1) of 29987
 
Dec. 26, 2000 (VIA Satellite, Vol. 15, No. 12 via COMTEX) -- by Marc Crossman and Aileen Chen After another quarter showing insufficient growth in subscribers and in revenues, Globalstar is failing once again to prove to investors that its strategy and its products and services are winning customers. Further disappointing investors was Loral stating that it will not fund Globalstar further if the satellite mobile phone company cannot operate well on its own. Investors, unhappy with Globalstar's performance, pushed the stock price down by roughly 60 percent to $2.38, its lowest point in years, on the day of the earnings announcement. With enough cash to last only until May of next year, (according to the company), Globalstar is struggling against time.

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I find the timing of this article to be a bit specious. There is an implication, IMHO, that G* recently reported disappointing numbers, rather than being 3 days away from ending a quarter for which they have not yet reported numbers. Just my opinion. It is also interesting to note the final sentence Marc Crossman and Aileen Chen are satellite analysts at J.P. Morgan in New York City.
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