Why AST SpaceMobile Stock Shot Higher at the Open Today

·2 min read
Why AST SpaceMobile Stock Shot Higher at the Open Today

AST SpaceMobile (NASDAQ: ASTS) is being added to two indexes, an event that will likely lead to more mutual fund buying. The news led to a 6% move higher for AST shares at the market open -- but the stock was unable to sustain those gains. AST SpaceMobile is in the early stages of an ambitious and risky plan to connect run-of-the-mill smartphones via satellites.