What's Going On With Globalstar Stock Wednesday?

Globalstar Inc GSAT shares are trading higher Wednesday. The company announced a partnership with Parsons Corp PSN to support the public, government and defense sectors.

What Happened: Globalstar and national security technology provider Parsons announced a deal to support a myriad of communication needs across various sectors. The partnership also includes the successful demonstration of Parsons’ software-defined satellite communications solution using Globalstar’s Low Earth Orbit (LEO) satellite constellation.

The two companies expect to be able to deliver a solution to enhance resilience against disrupted communication pathways utilizing Globalstar’s LEO satellite constellation.

“Partnering with Parsons Corporation allows us to demonstrate the versatility and effectiveness of our satellite solutions in addressing crucial connectivity challenges,” said Paul Jacobs, CEO of Globalstar.

See Also: ‘Big Short’ Trader Danny Moses Gives Up On Shorting Tesla, Says It Is ‘Very Difficult To Short A Name That Is Not Trading On Fundamentals’

How To Buy GSAT Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Globalstar's case, it is in the Communication Services sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

GSAT Price Action: Globalstar shares were up 7.61% at $2.26 at the time of publication, according to Benzinga Pro.

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