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Why AST SpaceMobile Stock Popped on Monday

TheMotleyFool

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Why AST SpaceMobile Stock Popped on MondayPhoto, wide shot, wide-angle lens, Gas company, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Sebastião Salgado: https://img.theapi.app/temp/01083d82-021d-4573-8c40-0e836a0771d6.png

Direct-to-cell satellite communications company AST SpaceMobile (NASDAQ: ASTS) enjoyed a modest share price boost Monday after announcing it has secured "up to 45 MHz of Premium Lower Mid-Band Spectrum in the United States" from privately held Ligado Networks.

AST stock is up 3.2% through noon ET.

AST currently has rights to low-band spectrum, "which offers superior penetration and coverage characteristics" for its satellites, permitting ordinary, off-the-shelf cellphones to call each other directly via its satellites -- just like specialized satellite phones.

Source Fool.com