ASTS - Why AST SpaceMobile Stock Is Blasting Off Today
2024-05-16 11:42:11 ET
Space mobility specialist AST SpaceMobile (NASDAQ: ASTS) is formalizing ties with partner AT&T ahead of its commercial launch this summer. That news, along with AST's latest earnings report, has the stock going to the moon.
Shares of AST SpaceMobile were up 34% as of 10:30 a.m. ET after opening as much as 48% higher.
AT&T and AST SpaceMobile have been working together since 2018, but this new commercial agreement is a big step toward solidifying the partnership and advancing AST's push toward revenue generation. AST plans to launch its initial five satellites into space this summer, which would enable commercial service.
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Why AST SpaceMobile Stock Is Blasting Off Today