India, April 14 -- Globalstar, Inc. (GSAT) shares rose 9.36 percent to $79.71, gaining $6.82 on Monday, after Amazon.com, Inc. announced a definitive agreement to acquire the satellite communications company.
The stock is currently trading at $79.71, up from its previous close of $72.89 on the Nasdaq. It opened at $78.81 and has traded in a range of $78.45 to $80.78 during the session, with volume reaching 6.63 million shares compared to an average of 832,266 shares.
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The acquisition will enable Amazon to integrate Globalstar's satellite infrastructure into its low Earth orbit network to support direct-to-device services and expand global connectivity. Th...