Why AST SpaceMobile Stock Crushed it on Thursday
On Thursday, a new initiative announced by not one, not two, but all three major U.S. telecom service providers strapped a rocket to AST SpaceMobile's (NASDAQ: ASTS) equity. The company, which specializes in facilitating such services through satellites, saw its stock rise in excess of 10% as a result.
Before market open that day, AT, Verizon, and T-Mobile announced they were forming a joint venture to expand their coverage into so-called "dead zones." This entity, which is yet to be named, will use the type of satellite technology in which AST SpaceMobile specializes.
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