**Iridium Communications Stock Soars on Acquisition Speculation**
Iridium Communications (NASDAQ: IRDM) experienced a surge of over 15% in its stock price on Thursday, benefitting from rising investor interest in satellite companies. This spike followed a report from the Financial Times detailing discussions between Globalstar and Amazon about a potential acquisition aimed at enhancing Amazon’s satellite internet initiative.
The Financial Times noted that negotiations between Globalstar and Amazon have been ongoing, although the deal’s financial specifics remain undisclosed. Complicating matters, Apple holds a 20% stake in Globalstar and is also reportedly in talks with Amazon. Investor sentiment surrounding satellite stocks appears driven by speculation, with potential competitors like SpaceX previously expressing interest in Globalstar.
