INSUBCONTINENT EXCLUSIVE:
AST SpaceMobile Satellite Launch | BloombergBy Magdalena Del Valle, Bailey Lipschultz and Bruce Einhorn
AST SpaceMobile Inc., the tiny
telecom company that wants to compete with SpaceX, has become one of the hottest stocks in the world this year after soaring from $2 to $28
On Thursday morning, AST is set to launch its first five commercial satellites into low-earth orbit from Cape Canaveral, Florida, aboard a
Russell 2000 Index over the past six months
special purpose acquisition company New Providence Acquisition Corp
The stock closed its first day of trading at nearly $12, but then started a long descent, eventually falling below $2 briefly on April 2 and
First, AST reached an agreement with AT-T Inc
which has a similar deal with T-Mobile US Inc
Two weeks later, Verizon Communications Inc
said it would invest $100 million in a partnership, sending the stock price flying.
By Aug
satellites, which are roughly the size of a one-bedroom apartment, ready for launch
AST is among a few firms trying to provide broadband cellular connectivity through low-orbiting satellites rather than cell towers
Mak, director of the Real-Time Analysis and Investment Lab at the Stanford Graduate School of Business, said in an interview
data from Matthew Unterman, managing director at S3 Partners LLC.
AST has five Wall Street analysts covering the stock as tracked by
Bloomberg, all with buy ratings and price targets that indicate a 57% rise in the share price over the coming year
All of the firms tracked by Bloomberg that cover the stock have at least previously had investment banking relationships with the
Through the first half of this year, AST generated $1.4 million in sales
move stands out as a relative success story at a time when other space-related de-SPACs have cratered
Planet Labs PBC, which went public in 2021 and climbed to $11.84, now trades for around $2
last week after the company filed to sell up to $400 million of stock in a so-called at-the-market program, which enables its bankers to
plenty of companies file for facilities and never move to capitalize on them
next 17 satellites, Chief Executive Officer Abel Avellan said on an earnings call last month
position in AST as of June 30
This is an iterative process
Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)First Published: Sep 12 2024 | 9:04 AMIST
