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According to reports, Amazon is currently in negotiations to acquire the satellite communications company Globalstar, with the intention of establishing and expanding its own low-Earth orbit satellite business. This news had a significant impact on the market, causing Globalstar's stock price to soar by 24% after the market closed on Wednesday. By the end of Wednesday's trading, the company's market capitalization had reached $8.81 billion. Globalstar is well-known for its low-Earth orbit satellite services, which encompass voice communication, data transmission, and asset tracking. The negotiation process for this potential acquisition has been complicated by the fact that Apple already holds a 20% stake in Globalstar. Furthermore, Globalstar has also engaged in preliminary discussions with other companies in the industry, such as SpaceX.
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