10:55 AM EST, 11/18/2024 (MT Newswires) -- Globalstar ( GSAT ) said Monday it plans to transfer its stock listing to the Nasdaq Global Select Market in Q1 2025 and has submitted an application with the exchange.

Globalstar's ( GSAT ) shares will continue trading on the NYSE American until listing on Nasdaq is completed, according to the company.

The company also said its board has authorized a reverse stock split of its common shares that will take place in Q1.

Globalstar ( GSAT ) shares were down 2.2% in recent trading.

Price: 1.77, Change: -0.04, Percent Change: -1.94