Globalstar Defies Sector Decline as Amazon Deal Boosts Stock

Globalstar, a space stock, defied July's sector-wide decline by rising nearly 3%. This outperformance came as other peers in the sector, including AST SpaceMobile, Rocket Lab, and SpaceX, lost more than one-third of their value. Globalstar was supported by Amazon's $11.6 billion takeover agreement, which provided a clear reference value for the stock.

The acquisition would give Amazon access to Globalstar's licensed spectrum, satellites, ground network, and direct-to-device experience. This would allow Amazon to expand its ambitions beyond fixed broadband and compete directly with SpaceX and other satellite-to-phone providers.

Retail traders on Stocktwits have been bullish on Globalstar, with sentiment reaching 69 out of 100 in August. Message volume has doubled over the past month, and the ticker's watcher base has grown modestly over the past year.