Kerrisdale Takes Its Globalstar, Inc. (GSAT) Short To The FCC

Globalstar, Inc. (NYSEMKT:GSAT) shares are taking a beating once again as Kerrisdale Capital Management presses its short thesis, this time sending a letter to the Federal Communication Commission (FCC) arguing that opening Channels 12 and 13 would be a more effective way to deal with Wi-FI congestion than Globalstar’s Terrestrial Low Power Service (TLPS). GSAT is currently down 10%, with plenty of volatility over the last few hours.

“Globalstar’s TLPS concept is technically and commercially defective and will do nothing to expand wireless broadband capacity. By contrast, easing...