Why AST SpaceMobile Stock Is Up Today
AST SpaceMobile (NASDAQ: ASTS) has cleared a key milestone in its effort to connect terrestrial mobile phones via a satellite-based network, and investors are celebrating the accomplishment. Shares of AST climbed as much as 19% on Tuesday after the company outlined its accomplishment.
AST is a space stock focused on solving a particularly vexing problem. The company is developing technology that would allow modern cellular phones to communicate with its satellites, which, if successful, has the potential to eliminate so-called "dead spots" common with terrestrial cellular networks and expand connectivity to new areas.
On Tuesday, the company said its engineers successfully placed a call from Hawaii to Spain, the first-ever connection for voice and data using satellites to achieve modern 5G network quality and speed. The call was placed on Sept. 8 using an unmodified Samsung phone in an area that has no cellular service.
Source Fool.com
