Why AST SpaceMobile Stock Skyrocketed This Week
AST SpaceMobile (NASDAQ: ASTS) stock closed out this shortened trading week with massive gains. The company's share price gained 31.2% across the stretch. The S 500 gained 1.8% across the period, and the Nasdaq Composite rose 2.1%.
In addition to bullish momentum for the broader market, AST's valuation got a huge boost from news that another player in the space industry was making a big acquisition. Rocket Lab is on track to acquire Iridium Communications in an $8 billion deal, and investors see that as a bullish sign for AST.
Image source: Getty Images.
Source Fool.com
