Stock Market Today, June 29: AST SpaceMobile Rises on BlueBird Satellite Momentum
AST SpaceMobile gave investors another constellation milestone, keeping attention on launch cadence and the path toward commercial service.
Overview
AST SpaceMobile (NASDAQ:ASTS), a space-based cellular broadband network for standard mobile phones, closed at $86.77, up 21.44%. The stock rose as the company confirmed its newest BlueBird satellites were alive and well in orbit, and investors are watching the August launch window and Q2 earnings timing.
The company’s trading volume reached 32.1M shares, which is about 44% above its three-month average of 22.4M shares.
Details
The S&P 500 (SNPINDEX:^GSPC) closed at 7,440, up 1.18%, while the Nasdaq Composite (NASDAQINDEX:^IXIC) finished at 25,820, up 2.07%. Among satellite telecommunications and non-terrestrial direct-to-device cellular connectivity peers, Iridium Communications (NASDAQ:IRDM) closed at $54.59, up 25.44%, and SATS (NASDAQ:SATS) closed at $103.92, up 3.64%.
Source
Originally published at www.fool.com.