Why Amazon Stock Just Popped
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Amazon is buying Globalstar for $11.6 billion, gaining instant DTC capability for its Amazon Leo satellite internet service. The deal is expected to close in 2027, pending regulatory approval, and will increase Amazon's satellite constellation by about 10%.
Amazon is acquiring Globalstar for $11.6 billion. The deal gives Amazon instant DTC capability for its Amazon Leo satellite internet service. Globalstar's 24 satellites will increase Amazon's constellation by 10%. The acquisition is expected to close in 2027. Amazon stock rose 4% following the announcement. Globalstar's DTC technology will enhance Amazon's satellite internet service.
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