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Why Globalstar Stock Plunged Today

Why Globalstar Stock Plunged Today

Shares of Globalstar (NYSEMKT: GSAT) fell on Friday, following bearish analyst remarks. As of 11:20 a.m. EST, the satellite communication specialist's stock price was down 15%. Morgan Stanley analyst Simon Flannery cut his rating on Globalstar's stock from equal weight to underweight and placed a $0.55 price forecast on its shares.