AST SpaceMobile And SpaceX? Why ASTS Shares Are Rising Today

AST SpaceMobile Inc (NASDAQ: ASTS) is trading higher Wednesday after the company announced it signed a multi-launch agreement with SpaceX for planned direct-to-cell phone connectivity. 

"This agreement secures the availability for a reliable launch of our first production satellites out of the U.S.," said Abel Avellan, founder, chairman and CEO of AST SpaceMobile.

In addition to the planned launch of AST's BlueWalker 3 test satellite, which will launch from Cape Canaveral on a Falcon 9, the agreement also covers the launch of the company's first BlueBird satellite and provides a framework for future launches.

AST SpaceMobile’s mission is to eliminate the connectivity gaps faced by today’s five billion mobile subscribers moving in and out of coverage zones, and bring cellular broadband to approximately half of the world’s population who remain unconnected.

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ASTS 52-Week Range: $4.84 - $15.48

AST SpaceMobile shares were up 20.6% at $8.14 at time of publication.

Photo: SpaceX-Imagery from Pixabay.