Why AST SpaceMobile Stock Popped 12% Today
Shares of recent IPO space company AST SpaceMobile (NASDAQ: ASTS), which aims to make every mobile phone a satellite phone, jumped nearly 12% in early trading Monday before reversing course and giving back almost all of its gains in the afternoon. As of 2:15 p.m. EDT, AST stock is up just 2%.
So why the pop, and why the drop? The former is easier to explain. In fact, I can explain it in just two words: Barclays Capital.
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Source Fool.com
