ASTS - Why AST SpaceMobile Stock Soared Higher in June
2024-07-02 15:10:30 ET
AST SpaceMobile (NASDAQ: ASTS) followed a spectacular May with another strong performance in June, with the stock climbing 40% for the month, according to data provided by S&P Global Market Intelligence .
Investors are increasingly getting excited about this space start-up's chances for success, and the stock is rocketing higher as a result.
AST is a space telecommunications company hoping to build a space-based broadband wireless network accessible by standard mobile phones. Satellite phones have been available for years, but AST's goal is to connect standard devices to its network, allowing for increased cellular coverage in areas where it is hard to build towers.
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Why AST SpaceMobile Stock Soared Higher in June