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Why AST SpaceMobile Rallied Today
Shares of AST SpaceMobile (NASDAQ: ASTS) rallied 13.1% today, as of 2:20 p.m. ET. Shares rose today on speculation the company may be in some sort of discussion with Jeff Bezos' Blue Origin satellite launch company or even potentially Amazon (NASDAQ: AMZN), including a potential acquisition.Last night, AST board member and first-ever institutional investor Adriana Cisneros posted a picture on Instagram, featuring herself, AST CEO Abel Avellan, and Amazon founder and chairman Jeff Bezos.On the one hand, it's not surprising the management teams are meeting with one another, as Bezos' Blue Origin has a contract to launch 45 AST satellites, with an option to launch 15 more in the future. These satellites will provide wholesale mobile service to areas unreachable by terrestrial infrastructure.Continue reading
Shares of AST SpaceMobile (NASDAQ: ASTS) rallied 13.1% today, as of 2:20 p.m. ET. Shares rose today on speculation the company may be in some sort of discussion with Jeff Bezos' Blue Origin satellite launch company or even potentially Amazon (NASDAQ: AMZN), including a potential acquisition.
Last night, AST board member and first-ever institutional investor Adriana Cisneros posted a picture on Instagram, featuring herself, AST CEO Abel Avellan, and Amazon founder and chairman Jeff Bezos.
On the one hand, it's not surprising the management teams are meeting with one another, as Bezos' Blue Origin has a contract to launch 45 AST satellites, with an option to launch 15 more in the future. These satellites will provide wholesale mobile service to areas unreachable by terrestrial infrastructure.
