AST SpaceMobile ( (ASTS) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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AST SpaceMobile’s stock is on the rise following the announcement of a significant 10-year agreement with Saudi Telecom Company. This deal, which includes a $175 million prepayment for future services, is expected to enhance digital inclusion and expand mobile coverage in the region. The partnership has boosted investor confidence despite some financial challenges, suggesting potential upside due to the company’s solid cash position.
More about AST SpaceMobile
YTD Price Performance: 259.38%
Average Trading Volume: 12,334,330
Technical Sentiment Signal: Buy
Current Market Cap: $28.27B
For further insights into ASTS stock on TipRanks’ Stock Analysis page.
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