Why AST SpaceMobile Stock Is Soaring Today
AST SpaceMobile (NASDAQ: ASTS) stock is making big gains Tuesday thanks to signs that the space industry will receive elevated support under the new Trump administration. The company's share price was up 10.1% as of 1:40 p.m. ET and had posted gains of as much as 11.3% earlier in daily trading.
Space stocks are rallying today following comments made by President Trump at his inauguration, and AST SpaceMobile is among the companies getting a valuation boost. In particular, investors seem to be excited about Trump's plans to support a mission to send U.S. astronauts to Mars.
Speaking at his inauguration event yesterday, Trump said, "We will pursue our manifest destiny into the stars, launching American astronauts to plant the Stars and Stripes on the planet Mars."
Source Fool.com
