Globalstar ($GSAT) shares surged 28% on Thursday following reports of potential sale talks with SpaceX. Trading briefly halted as shares reached $58.35. Apple holds a 20% stake in Globalstar and invested $1.5 billion last year. Chairman James Monroe has discussed potential sale valuations above $10 billion. Globalstar supports iPhone satellite texting and emergency services. SpaceX is one of several potential suitors. The situation is developing, and more details may emerge.

Stay tuned for updates on Globalstar ($GSAT) as the satellite communications firm explores a potential sale with interest from SpaceX. Apple ($AAPL) holds a 20% stake in Globalstar and relies on its satellite network for iPhone SOS services. SpaceX is reportedly in early talks to acquire or partner with Globalstar.

Read more at Quiver Quantitative: Globalstar Shares Surge 28% on Report of Sale Talks With SpaceX