Sell AST SpaceMobile (ASTS)
We’re going to step back from AST SpaceMobile (ASTS) today to lock in a better-than 50% gain on our half-sized position.
The company, which successfully launched five BlueBird satellites last September, is working to build a space-based cellular broadband network. It has plans to put another 60 or so satellites into orbit between 2025 and 2026.
However, the narrative in the market is that Starlink is also moving quickly to build a service to connect directly to smartphones. And today’s news that it has been working with Apple (APPL) and T-Mobile (TMUS) to add support for the Starlink network in the latest iPhone update has sent shares of ASTS below its 200-day line.
Rather than hold and hope that ASTS can announce news soon that will get the stock going again (which it easily could), I’m going to take the bird in the hand approach. Let’s lock in the gain. SELL
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