Kerrisdale Presses GSAT Short Following Recent FCC Application

Kerrisdale Capital is pressing its short campaign against Globalstar, Inc. (NYSEMKT:GSAT) as the company’s share price continues trending down, this time focusing on its experimental-license activity that the hedge fund says show weaknesses in the GSAT’s plans to offer premium Wi-FI through its terrestrial low power service (TLPS), a direct response to the enthusiasm around GSAT’s October 20 application to the FCC to do testing in San Carlos, California to determine the efficacy of TLPS for ‘outdoor small cell use in diverse semi-urban environments’ and ‘latency intolerant/high priority applications’.

Cisco seems indifferent to TLPS

First, Kerrisdale says that some of the recent excitement is based on the notion that Cisco Systems, Inc. (NASDAQ:CSCO) is a partner in the experiment....