Why AST SpaceMobile Stock Is Bouncing Back
For the second day in a row, AST SpaceMobile (NASDAQ: ASTS) stock is hopping.
AST shares tumbled earlier this week after the company floated $460 million in dilutive convertible debt to raise cash for building new direct-to-cell satellite communications satellites. Yesterday, however, AST stock posted a win after customer placed "the world's first video call via satellite using a standard smartphone from a remote location" -- and used an AST satellite to do it.
And today? Today AST stock is flying 17.5% higher through 10:15 a.m. ET, and recouping all its losses from earlier in the week. Why? The Federal Communications Commission has just approved AST to begin testing its satellites in the United States.
Source Fool.com
Vodafone Group Stock
€1.15
0.920%
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