Iridium Communications Stock Rises 22% Following Globalstar's Acquisition by Amazon
Iridium Communications (NASDAQ: IRDM) stock surged by over 22% following news that its peer, Globalstar, was acquired by Amazon for $11 billion. The acquisition increased the value of satellite networks, benefiting Iridium, which has operated its network for many years. The deal is expected to drive more interest in satellite companies as AI-ready data centers in space become a growing trend.
Topics: acquisition Amazon Globalstar Iridium Communications satellite industry stock price movement