Dallas, Texas 04/15/2014 (FINANCIALSTRENDS) – Globalstar, Inc. (OTCMKTS:GSAT) which is a pink sheet stock as of date with a market cap of $2.2 billion will soon be trading on the main stream New York Stock Exchange. This information was provided by the mobile satellite services provider last week. The trading of the stock with a ticker label of “GSAT” will be commencing on 21st April. The trading of the stock on the OTCQB will also come to an end at the same time. The opening bell on 21st April at the marquee stock exchange will be rung by the top management of Covington based firm as per the press release.
Explaining the importance of getting New York Stock Exchange nod to trade its stock at the exchange, Globalstar, Inc. (OTCMKTS:GSAT) Chairman and CEO Jay Monroe has been quoted to have said that, “Trading on the New York Stock Exchange represents yet another important milestone in Globalstar’s resurgence and has been made possible by our many important accomplishments over the past twelve months. Listing on the NYSE will enhance the Company’s trading liquidity as well as its visibility, all to the benefit of our loyal stockholders who have stuck with us over the past many years”.
Welcoming the technology services provider into its trading family, NYSE Euronext Executive Vice President and Head of Global Listings Scott Cutler has been quoted to have said that the small cap firm is going to benefit from the proven and dependable trading platform provided by the New York Stock Exchange to leverage its potential to the maximum and raise enough funds to grow its business into new markets.
As of close of business on 14th April, the stock was up slightly at 0.78 percent and had reversed the over 7.8 percent loss it had posted during the past five days of trading.