Globalstar Responds To Kerrisdale Short

Globalstar, Inc. (NYSEMKT:GSAT) issued a brief response to Kerrisdale Capital Market’s short thesis earlier this week, but yesterday evening Globalsat CEO Jay Monroe and Jarvinian managing director John Dooley (who helped to develop TLPS) held a teleconference to refute Kerrisdale’s arguments point by point.

“Kerrisdale has completely mischaracterized a combination of industry facts and Globalstar’s long-term spectrum and operational prospects all for its personal gain. Citing dozens of unnamed industry sources and revealing a lack of expertise of its own Kerrisdale is pushing forward a transparent agenda to drive our stock down,” said Monroe.

Globalstar quotes FCC, tech industry support for its plan

While Kerrisdale Capital founder Sahm Adrangi also looked at Globalstar, Inc.’s (NYSEMKT:GSAT) past financial difficulties and loss-making satellite business, the...