Globalstar, Inc. (OTCMKTS:GSAT) Contains Slide, Rushes Back Up
After ending last week’s trading on a very strong note, hitting a new 52-week high, Monday saw Globalstar, Inc. (OTCMKTS:GSAT) turn red, even if the drop was under 1%. In the next session GSAT pulled back further, dipping as low as $1.18 intra-day. However, after two more sessions it seems the ticker is back on track and is pushing for new highs again.
The drop that happened this Tuesday was more or less expected, as GSAT was climbing more steadily in September, but October saw the ticker run up in leaps and bounds. The price put on 43% in seven consecutive green sessions and was bound to retrace sooner or later. Luckily for shareholders, the stock held fast and the slip was contained very quickly, then reversed into a climb.
The last two green sessions sent GSAT precisely where the stock was before the slip, at $1.43 per share. With balance restored, the ticker has a fair chance of trying for $1.50, as it very nearly got there intra-day on Friday. Traders on discussion boards seem hesitant about which way the ticker will go, but mostly optimistic about green days in the short term.
Even though there have been no new press releases from GSAT for a while now, the ticker still commands significant volumes, at 16.4 million shares traded yesterday – the highest volume GSAT moved in the last six months, so the momentum is still there.
Other hot penny stocks in yesterday’s OTC session include Alkaline Water Company, Inc. (OTCBB:WTER) who closed 7% down and stopped at $0.56 per share. Pacific Clean Water Technologies, Inc., f/k/a Unseen Solar, Inc. (OTCMKTS:PCWT) – the latest but far from greatest pump delivered by Awesome Penny Stocks and Victory Mark, tanked hard once again. PCWT was annihilated once on Wednesday, crashing nearly 61%. Yesterday the ticker went another 57% down, to lose almost 85% in two sessions.