Why AST SpaceMobile Stock Popped on Tuesday
Satellite communications stock AST SpaceMobile (NASDAQ:ASTS) jumped 8.7% through 10:25 a.m. ET Tuesday after announcing its “first satellite-to-smartphone integration test” with Canadian telecommunications company Telus Corporation (NYSE:TU).
Image source: Getty Images.
AST explains that the test marks “a significant milestone” in progress toward connecting Telus’s cellphone network to AST’s BlueBird satellite constellation. Once complete, the integration will allow cellphone users in Canada to make cell-to-cell calls and texts via satellite and access broadband internet on their devices, even in “remote areas of Canada where traditional cell service isn’t available.”
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.