Why AST SpaceMobile Stock Soared Today
The onset of artificial intelligence (AI) applications gives people even more reasons to be glued to their smartphones. Broadband connectivity is more important than ever. AST SpaceMobile (NASDAQ: ASTS) is launching satellite arrays to provide that connectivity from low orbit satellites.
That's not exactly why AST stock soared as much as 19% today, though. In addition to providing global consumers with satellite internet access, the company was now named as a primary contractor for a U.S. national security program. As of 1:21 p.m. ET, AST shares were still trading up by 16.8% on the news.
Image source: Getty Images.
Source Fool.com
