In the grand tradition of mortals wagering on celestial ventures, Essex Investment Management-a cabal of number-wizards based in the fabled realm of Massachusetts-has cast its lot with Globalstar (GSAT +4.62%). A recent scroll filed with the Securities and Exchange Commission reveals they’ve acquired shares worth $7.1 million, a move that might one day be remembered as either genius or a footnote in the Annals of Financial Alchemy.
What Transpired in the Third Quarter of Fiscal Alchemy
The filing, released under the watchful eye of Thursday’s market gods, reveals Essex now holds 194,343 shares of Globalstar, valued at $7.1 million by quarter’s end. This positions the satellite sorcerer’s stock as 1.1% of Essex’s $653.4 million portfolio of U.S. equity holdings-a sliver of cosmic string in their grand tapestry of investments.
Additional Lore from the Filing Scroll
The fund’s top five holdings now read like a rogue’s gallery of technomancers:
- NASDAQ:KTOS: $22.3 million (3.4% of AUM, whatever that arcane acronym means)
- NASDAQ:STRL: $15.5 million (2.4%, presumably the “safe” bet)
- NASDAQ:AMSC: $14.6 million (2.2%, though 2.3% of analysts still don’t get it)
- NASDAQ:TSEM: $14.2 million (2.2%, a number as round as a goblin’s belly)
- NASDAQ:INSM: $12.5 million (1.9%, which is 0.1% closer to 2% than we are to understanding dark matter)
As of last market close, Globalstar’s shares floated at $50.48-a price that’s surged 82% over the past year, leaving the S&P 500’s 12% growth looking as anemic as a half-hearted ghost.
The Company: A Constellation of Ambition
| Metric | Value |
|---|---|
| Price (as of Friday’s twilight bell) | $50.48 |
| Market Capitalization | $6.4 billion (give or take a few million from celestial inflation) |
| Revenue (TTM, or Twelve Months That Might as Well Be Magic) | $260.7 million |
| Net Income (TTM, though “net” feels like a suggestion here) | ($38.4 million) |
Profile of a Skyborne Merchant
Globalstar, Inc. operates a network of satellites that beam connectivity to the forgotten corners of the world-places where even carrier pigeons refuse to fly. Their tech serves enterprises, governments, and the occasional hermit in a cave who insists on streaming cat videos via satellite.
With a plan as bold as a dragon in a tutu, the company aims to commercialize Band n53 spectrum and build a hybrid satellite-terrestrial network. Imagine a world where your phone switches seamlessly from 5G to “literally the moon.”
Wisdom from the Fool’s Tower
Essex’s bet on Globalstar aligns with a growing trend: institutional investors circling the satellite-and-connectivity sphere like vultures over a dying camel. For Essex, this fits their strategy of backing small-cap firms “at inflection points”-a phrase that here means “companies that might either conquer the world or explode spectacularly.”
The purchase coincided with Globalstar’s Q3 earnings scroll, which boasted record revenue of $73.8 million (up from $72.3 million last year). Alas, net income dipped to $1.1 million thanks to “non-cash interest and foreign currency impacts,” which is finance-speak for “we lost track of some gold doubloons in a hurricane.” CEO Paul Jacobs, a man who speaks of satellites as if they’re old friends, touted progress on their next-gen C-3 constellation-a project that could either usher in a new era of connectivity or accidentally summon a space kraken.
For those with nerves of steel and portfolios unbothered by volatility, Globalstar’s partnerships and infrastructure gambles might bloom into a “durable growth runway.” But until then, strap in: this broomstick ride could get bumpy 📈.
The Lexicon of Financial Sorcery
13F reportable assets under management: The portion of a fund’s hoard the SEC demands be revealed, lest investors suspect the managers are secretly funding a private island.
Alpha: A measure of how much better (or worse) a fund manager is at picking stocks than a blindfolded monkey throwing darts at a financial newspaper.
Assets under management (AUM): The total value of gold, jewels, and enchanted scrolls a fund claims to be guarding for clients.
Band n53 spectrum: A frequency band that wizards say hums with the echoes of the Big Bang, but is mostly used for streaming satellite TikTok dances.
Gateway operators: The unsung heroes who keep satellites from getting lost in the astral plane, akin to air traffic controllers with better pensions.
Mission-critical: Systems so vital their failure would cause more chaos than a mime at a funeral.
IoT (Internet of Things): A network of enchanted artifacts-from toasters to thermostats-that gossip incessantly over the aether about your habits.
TTM: The 12-month period ending with the last quarterly report, which feels as arbitrary as declaring “this shall be the Year of the Unicorns.”
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2025-11-10 01:19