What happened Shares of mobile satellite services provider Globalstar (NYSEMKT: GSAT) soared more than 42% through 3:30 p.m. EDT Monday, the first trading day after company CEO David Kagan appeared online at the 24th Annual Burkenroad Reports Investment Conference to provide a financial update on the company's historical progress and future plans. So what Kagan's presentation stretches 22 pages in length and was mostly historical in nature, so it's hard to be 100% certain what, precisely, it is in that presentation that investors are responding to today. That being said, a few things jump out. According to Kagan, Globalstar's overall revenue growth over the last five years has averaged just 7% per year, but the company's fastest growing division, which includes providing Internet-of-Things (IoT) services to commercial clients, grew twice as fast -- 14% annualized. Globalstar predicts that the worldwide satellite IoT market that is worth $1.5 billion today will grow to $2.5 billion by 2027, and Globalstar's satellites are capable of reaching greater than 90% of that market opportunity. "Hey, Houston! Have you checked out Globalstar's stock price today?" Image source: Getty Images. Now what What does this mean to investors? Globalstar seems to be saying that 90% of the growth in global IoT revenue is within its grasp, meaning there's the potential, at least, for this portion of Globalstar's business to grow another 50% over the next six years. On top of this, the company sees a $23 billion addressable market in private LTE cellular services (through 2023) that it can exploit. While I can't be certain that these are the numbers investors are responding to in today's trading, with all of Globalstar valued at just $2.1 billion currently, the potential for growth into a couple of multi-billion-dollar markets could be what's moving the needle on Globalstar stock today. 10 stocks we like better than GlobalstarWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Globalstar wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of February 24, 2021 Rich Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source