Why AST SpaceMobile Stock Is Up Today
Shares of AST SpaceMobile (NASDAQ: ASTS) soared as much as 50% higher on Wednesday morning after Deutsche Bank initiated coverage with a buy rating and set a sky-high price target.
AST SpaceMobile has attracted a lot of attention since joining public markets back in April via a SPAC merger. The company has a plan to turn the world's cellphones into satellite phones using what it calls a "highly proprietary" technology that it hasn't really explained in full.
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Source Fool.com
