ASTS - Why AST SpaceMobile Stock Keeps Jumping Higher
2024-03-08 11:36:14 ET
AST SpaceMobile (NASDAQ: ASTS) stock popped on Wednesday, closing the day 3% higher in response to news that Scotiabank had initiated coverage of the stock with a sector outperform (i.e., buy) rating. On Friday, for the second time in three days, the tiny cellphones-to-satellites communications company is again enjoying a much-appreciated lift -- this time, thanks to Switzerland's UBS .
As of 10:30 a.m. ET, AST stock is up a solid 6%.
In Wednesday's note, Scotiabank made the argument that AST's leading role in "the biggest revolution in network architecture in decades" (i.e., technology to let ordinary, off-the-shelf cellphones communicate with other cellphones via satellite) made the stock worth $7.50 per share. UBS isn't quite that optimistic -- but it's close.
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Why AST SpaceMobile Stock Keeps Jumping Higher