AST SpaceMobile Trades Near $74. Here's The Subscriber Math That Justifies It.
The LEO satellite maker still has a bright future.
Overview
AST SpaceMobile (NASDAQ: ASTS), a developer of low Earth orbit (LEO) satellites, went public through a merger with a special purpose acquisition company on April 7, 2021. It started trading at $11.63 per share on its first day, but now trades at nearly $74 per share.
That rally was driven by its partnerships with telecom giants such as AT&T and Verizon, the launch of its first commercial satellites, and its ambitious expansion plans. But with a market cap of $21.5 billion, it already trades at 127 times this year's sales.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.