I think the price drop was engineered manipulation. There have been conspiratorial (yeah, that's the right word) workings against GSAT. Remember the hedge fund big wig that engaged in massive bashing of GSAT and TLPS (based on supposed researched arguments) while at the same time short the stock? Then when news hit that TLPS was coming for a vote and the buzz was that it seemed likely to be approved, the stock soared. Then a leak about a member of the FCC committee who had voted no, then an unconfirmed rumor of another possible no vote, and GSAT tanked. This is all typical greed-based manipulation. I'm not holding GSAT but this stuff makes me angry because it shows what common investors are up against. I think if TLPS is approved, the manipulators already know about it because insider information trading is the normal way things work; anyone who thinks differently is naive. Meanwhile the common or retail investors just hope they made a good bet based on non-insider DD that at times one must trust with a gain of salt.
Having said all that. I believe that the U.S. market for TLPS while important is not the only place in the world where TLPS will be deployed. I think GSAT will be fine in the long run.
GL
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