What Happened?
A number of stocks jumped in the afternoon session after investor sentiment turned positive on hopes of a potential ceasefire in Iran, which also contributed to easing oil prices.
Wall Street started the new quarter with a tech-led rally, as major indices like the S&P 500 and Nasdaq Composite posted significant gains. The optimism stemmed from news of potential de-escalation in geopolitical tensions, which often encourages a 'risk-on' environment. In such a climate, investors are more willing to move capital into growth-oriented assets, such as technology stocks, which powered the market's upward move. The broad-based gains across sectors indicated a decisive shift in market sentiment, away from the caution that had prevailed previously.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.
Among others, the following stocks were impacted:
- Satellite Telecommunication Services company Viasat (NASDAQ: VSAT) jumped 4.7%. Is now the time to buy Viasat? Access our full analysis report here, it’s free.
- Satellite Telecommunication Services company Globalstar (NASDAQ: GSAT) jumped 9.5%. Is now the time to buy Globalstar? Access our full analysis report here, it’s free.
- Hardware & Infrastructure company Pure Storage (NYSE: PSTG) jumped 4.9%. Is now the time to buy Pure Storage? Access our full analysis report here, it’s free.
- Electronic Components & Manufacturing company Jabil (NYSE: JBL) jumped 3.5%. Is now the time to buy Jabil? Access our full analysis report here, it’s free.
- Electronic Components & Manufacturing company Plexus (NASDAQ: PLXS) jumped 4%. Is now the time to buy Plexus? Access our full analysis report here, it’s free.
Zooming In On Globalstar (GSAT)
Globalstar’s shares are extremely volatile and have had 50 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 2 days ago when the stock dropped 2.5% on the news that geopolitical tensions in the Middle East intensified, pushing major indices into correction territory.
The Dow Jones Industrial Average and the Nasdaq both fell more than 10% from their recent highs, a drop known as a "correction." This downturn was fueled by the conflict with Iran, which roiled markets and dampened investor sentiment. The primary concern was the surge in oil prices, a direct consequence of the geopolitical instability. Higher energy costs stoked inflation fears, leading investors to anticipate a "higher-for-longer" interest rate environment. This broad market decline reflected a classic "risk-off" sentiment, where investors move away from equities toward safer assets amid global uncertainty.
Globalstar is up 12.2% since the beginning of the year, and at $71.80 per share, it is trading close to its 52-week high of $73.68 from December 2025. Investors who bought $1,000 worth of Globalstar’s shares 5 years ago would now be looking at an investment worth $3,444.
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