AST SpaceMobile’s stock has increased after reaching a milestone

Stocks of AST SpaceMobile have increased after the firm reaches a milestone

November 15, 2022: -On Monday, Satellite-to-smartphone connectivity venture AST SpaceMobile announced that the wide antenna of its launched test satellite deployed successfully, a critical milestone in the firm’s development of a global network to deliver 5G broadband service.

The BlueWalker 3 satellite is establishing on SpaceX’s Falcon 9 rocket in September, which deployed its 693-square-foot antenna, which the company calls the most significant-ever array deployed in low Earth orbit.

AST SpaceMobile stock bounced about 18% in premarket trading on Monday from its close of $8.83 a share. The shares are up 11% so far this year.

“Every person should have the right to cellular broadband, regardless of where they live. Our aim is to end the connectivity openings that impact billions of lives worldwide,” AST SpaceMobile chairman and CEO Abel Avellan stated.

The company is among numerous competitors trying to create such a service, an untapped market that’s been a dream for satellite talking.

Sign up to receive weekly editions of Investing in Space newsletter.

AST’s network consists of a constellation of 168 satellites, with the firm adding that it reaches global coverage once 110 are in orbit. BlueWalker 3 represents AST’s second test satellite and plans to deploy its operational BlueBird satellites late next year.

The satellite firm went public via a SPAC in the previous year and has raised over $600 million. AST has racked up several mobile telecom partnerships for its service, which include AT&T, Vodafone, Rakuten and more.

On Monday, AT&T network president Chris Sambar said that the company is “excited” AST is reaching “this significant milestone.”

“Working with AST SpaceMobile, believing there is a future opportunity to extend our network reach, which includes otherwise remote and off-grid locations,” Sambar added.

About Us

We provide the insights on leaders who are responsible for taking their organization to new heights, all the while bringing together a group of talented individuals.

Recent Posts

Trōv | Embedded Insurance Specialist | Scott Walchek

Trōv is a global leader in embedded insurance, powering the future of digital insurance distribution and emerging mobility. Its robust insurtech platform empowers financial institutions and insurance incumbents to easily embed insurance products within other digital experiences to increase recurring revenue.

One80 Intermediaries | Keeping American Families Safe | Martin Burlingame

While only one in ten homes throughout the United States has flood insurance coverage, floods are the country’s most common and deadli-est natural disaster. Since 2000, they have cost American taxpayers $850 billion, two-thirds of the total cost of all natural disasters, yet only 1 out of 10 homes are insured for flood, and that number could soon be reduced.

ePremium | Working with Gold Standards | Lori Murphy

Insurance needs to be more precise as there are solutions that protect the assets owned by the Property Managers (apartment units) and solutions that protect the Residents and their personal belongings. Which programs to offer and buy depends on each unique client’s needs.

AST SpaceMobile’s stock has increased after reaching a milestone