AST SpaceMobile, Inc. (ASTS) shares took a dip on Thursday despite the company making headlines with the successful launch of its first five commercial satellites. The Bluebird satellites were launched at 4:52 a.m. ET from Cape Canaveral, Florida, marking a significant step for AST SpaceMobile’s ambitious vision of providing direct-to-phone cellular broadband services.
These cutting-edge satellites boast large arrays of antennas capable of reaching standard smartphones, delivering cellular broadband speeds for voice, data, video, and even non-communication government applications. Following their launch, the Bluebirds are slated to offer non-continuous cellular broadband service across the United States and in select global markets. With a goal of achieving nearly 100% nationwide coverage, they aim to blanket the US with over 5,600 coverage cells from space.
“This is an exciting next step to a future where our customers will only be hard to reach if they choose to be – giving them the power to go anywhere and the possibility to do anything while staying connected with just an everyday cell phone,” highlighted Jeff McElfresh, COO of AT&T.
While this launch signifies a major milestone for AST SpaceMobile, the stock faced a setback last week after the company filed a prospectus for the offer and sale of up to $400 million in Class A common stock. Despite this, AST SpaceMobile shares have demonstrated positive momentum in recent weeks, soaring over 25% in the past month and trading above the stock’s 50-day moving average of $21.65.
Interested in investing in ASTS?
You can purchase AST SpaceMobile shares through a brokerage account. Many platforms now allow fractional share purchases, enabling investors to own portions of stock even if they don’t have enough to buy an entire share.
For those looking to take a different approach and potentially profit from a decline in ASTS share price, you’ll need to explore options trading. This can involve buying a put option or selling a call option at a strike price above the current share price.
ASTS Price Action:
As of Thursday’s publication, AST SpaceMobile shares were down 9.25% at $25.33.This launch marks a significant step for AST SpaceMobile’s vision of expanding cellular connectivity, but the market response underscores the complex factors influencing stock performance. Investors will be closely watching how the Bluebirds perform and how the company navigates the coming months.
