NIO - AST SpaceMobile (ASTS) Squeezes 30% Higher
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AST SpaceMobile (NASDAQ:ASTS) stock is rising higher on Thursday as investors squeeze the shares despite a lack of news.
Instead, it looks like investors are speculating that future events from the company warrant a stake in ASTS stock. That includes the arrival of its BlueWalker 3 test satellite at Cape Canaveral.
BlueWalker 3 has already completed test flights in California and is set to launch from Cape Canaveral sometime in mid-September. The company wants to set up the satellite in low Earth orbit with that launch.
A Potential ASTS Stock Catalyst is Coming Next Week
And that’s not the only news that traders are expecting from AST SpaceMobile. The company is also preparing to release its quarterly earnings report next week. That report will drop after markets close on Monday with a conference call scheduled for 5:00 p.m. Eastern Time that day.
The squeezing of ASTS stock today comes with heavy trading of the shares. As of this writing, more than 5 million shares of the stock have been traded. That’s quite the increase when compared to the company’s daily average trading volume of around 808,000 shares.
Of course, that doesn’t mean traders will want to dive right into ASTS stock. While speculation is pushing it higher today, that momentum may not last. If so, traders could see red when they were hoping for green.
ASTS stock is up 30.4% as of Thursday afternoon. Shares of the stock are also up 45.4% since the start of the year.
There’s more stock market news that traders will want to read about below!
InvestorPlace is home to all of the latest stock news with our daily market coverage. A few examples for Thursday include everything happening with shares of Arrival (NASDAQ:ARVL), Nio (NYSE:NIO), and Li Auto (NASDAQ:LI) stock. You can find out more at the following links!
More Thursday Stock Market News
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- LI Stock News: Li Auto’s EV Joint Venture Just Filed for Bankruptcy
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