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 the existing restrictions on out-of-band emissions in the 2.4 GHz Band will…