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Orbsat Corp (OSAT) Stock Jumps Premarket As It Launches On

Sam Boughedda
Sam Boughedda trader
Updated 13 Jul 2021

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Orbsat Corp (NASDAQ: OSAT)

Orbsat Corp (NASDAQ: OSAT), a provider of IoT and connectivity solutions, has seen its share price jump premarket after it announced its Global Telesat Communications (GTC) unit will launch on


Business to business e-commerce website currently has 26 million global active business customers in 190 different countries.

GTC will be a gold supplier on the site, which is the most trusted seller category.

Orbsat said it expects to launch its new storefront during the third quarter with a range of satellite IoT and connectivity products, including its satellite tracking products which can be used to track and monitor the location of cars, trucks, trailers, boats, containers, animals, and other remote assets.

“With our launch on, the world’s largest B2B platform, we are significantly accelerating our global expansion plans, expanding, and deepening our e-commerce reach into nearly every country. This will allow us to better serve the needs of our enterprise customers across the world,” said Charles M Fernandez, Chairman and CEO of Orbsat.

“There has been explosive growth in online shopping due to the pandemic as businesses and consumers around the world embrace e-commerce. Long-term, we believe that e-commerce will be the preferred channel for businesses and consumers seeking to research and purchase our satellite IoT and connectivity products and services,” added Fernandez.

Orbsat’s share price is up 48.13% premarket at $9.88.

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Sam Boughedda
Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.