Why AST SpaceMobile Stock Jumped 53% in January
Shares of AST SpaceMobile (NASDAQ: ASTS) were among the winners last month as the satellite stock benefited from bullish sentiment toward the sector to start the new year, and news that it was awarded a SHIELD contract from the Missile Defense Agency.
The bullish momentum was enough to overcome a new competitive threat from Jeff Bezos's Blue Origin, and the company also announced a launch date for its new BlueBird 7 satellite.
According to data from S&P Global Market Intelligence, the stock finished January up 53%. As you can see, it was nonetheless a volatile month for AST.
Source Fool.com
