Orbsat Corp. (OSAT) stock prices were down by 5.39% at the end of July 12th, 2021, bringing the price per share down to USD$6.67. Subsequent premarket fluctuations have seen the stock surge by 77.06%, bringing it up to USD$11.81.
Partnership with Alibaba
The company announced on July 13th, 2021 that its Global Telesat Communications (GTC) unit had entered into an agreement with Alibaba.com. The B2B e-commerce website owned by the Chinese multinational technology company, Alibaba Group, specializes in e-commerce, retail, internet, and technology. Making use of the world’s largest B2B e-commerce website, Alibaba.com, GTC will be a Gold-Supplier. Alibaba.com boasts a network of global active business partners of more than 26 million, which serve customers across 190 countries in 19 different languages. The company receives over 340,000 product inquiries and 20,000 RFQs on a daily basis.
Details of Collaboration
Having been designated the highest level on Alibaba.com, OSAT finds itself in the most trusted seller category, which significantly expands the scope of its around-the-clock e-commerce presence with the launch of its latest global storefront. The company anticipates launching the new storefront during the third quarter of 2021, made possible by an extensive range of satellite IoT and connectivity products.
OSAT Product Portfolio
Among these products are the company’s specialized satellite tracking products, some of which are operated with the use of OSAT’s numerous ground station-based network processors. These can be used to track and monitor the location of a myriad of remote assets, including, but not limited to, cars, trucks, trailers, boats, containers, and animals. The company’s catalog of more than 500 products and connectivity services is set to be available on Alibaba.com by the start of the first quarter of 2022.
Scope of Partnership
The onset of the global pandemic and the ensuing closures and social restrictions has resulted in an explosion in online shopping, with e-commerce gaining unprecedented traction. The company is confident that e-commerce is the way of the future and is poised to consolidate its online presence with the recent partnership. Furthering this strategy, OSAT intends to secure new integration alliances, including joint commerce structures with additional connectivity partners.
Future Outlook for OSAT
Armed with the potentially massively profitable partnership, OSAT is keen to continue to allocate resources towards adapting to a pandemic and post-pandemic economy. Investors are hopeful that the company will effectively consolidate and expand its market footprint in successful efforts to facilitate significant and sustained increases in shareholder value.
