Globalstar (GSAT) stood apart from a devastating July selloff in space stocks, rising nearly 3% while most sector peers shed more than a third of their value.
AST SpaceMobile (ASTS) fell 34% during the month, while Rocket Lab (RKLB) dropped 36% and SpaceX slid 37% as investor enthusiasm rapidly faded.
Planet Labs and Spire Global each declined 38%, and Intuitive Machines dropped 42%, extending a broad retreat across the space sector throughout July.
The selloff followed SpaceX’s June IPO, which had initially lifted enthusiasm across launch, satellite connectivity and space-based AI stocks before sentiment turned sharply negative.
Investors began reassessing high valuations, long deployment timelines and the billions of dollars required to build and maintain large satellite constellations at scale.
Globalstar entered July in a fundamentally different position, having already secured a signed takeover agreement with Amazon (AMZN) valued at approximately $11.6 billion.
Under the deal announced in April, Globalstar shareholders can elect to receive $90 in cash or 0.3210 Amazon shares per share, with the stock consideration capped at $90 and subject to proration.
That defined deal value gave GSAT a clear price anchor that most rival space stocks lacked, as competitors continued trading primarily on speculative future growth and funding requirements.
Clear Street captured that dynamic in May when it downgraded Globalstar to “Hold” from “Buy” but raised its price target to $90 from $71, citing limited remaining upside to the takeover value.
Amazon’s ambitions for Globalstar became significantly clearer when Amazon Leo proposed a constellation of up to 5,105 satellites for direct-to-device voice, messaging, data and emergency services.
Amazon said the network would work with mobile operators globally and use Globalstar’s licensed mobile satellite spectrum, with deployment expected to begin in 2028.
The filing places Amazon more directly against SpaceX, AST SpaceMobile and other satellite-to-phone providers in what is becoming an intensely competitive direct-to-device market.
Globalstar owns licensed mobile satellite spectrum in the 1.6 GHz and 2.4 GHz bands, which already supports satellite services for millions of Apple users including Emergency SOS and location sharing.
Amazon is also set to take over Apple’s 20% stake in Globalstar while continuing satellite services for iPhone and Apple Watch under the existing arrangement.
The acquisition gives Amazon Globalstar’s spectrum, satellites, ground infrastructure and direct-to-device operating experience in a single transaction, accelerating its push into mobile connectivity.
Globalstar has guided to 2026 revenue of $280 million to $305 million, with an adjusted EBITDA margin of approximately 50%, providing investors with near-term financial visibility.
On Stocktwits, retail sentiment toward GSAT has reached 69 out of 100, holding in “bullish” territory for the past week and rising from “neutral” a month ago.
Message volume on the platform has doubled over the same period, reflecting growing retail attention as the Amazon transaction moves toward its expected 2027 close.
One user commented, “$GSAT $20B is the real value of Globalstar and its Spectrum. That puts share price at $155 share. Bidding war could surpass that. Just the sniff of interest might motivate Amazon to adjust their current offer.”
Another user wrote, “$GSAT SpaceX has 5,105 reasons to offer a superior bid to acquire Globalstar. Even Elon didn’t realize Amazon’s plans to jump ahead of SpaceX. It’s all about the Spectrum.”
GSAT stock has surged 255% over the past year, cementing its status as one of the space sector’s most consequential stories heading into the second half of 2026.
