Globalstar CEO Paul Jacobs explains why satellite company moved from NYSE to Nasdaq

Satellite communications company Globalstar listed on the Nasdaq Tuesday after delisting from the New York Stock Exchange."We did a reverse split — we're a multibillion dollar company, but our stock price was down in the dollar-ish range," CEO Paul Jacobs told CNBC's Becky Quick on "Squawk Box." "And people thought of us as a penny stock, and some investors couldn't invest in us, so we're here sort of in conjunction with that."Jacobs and Globalstar also rang the opening bell at the Nasdaq Tuesday morning. T ...