AST SpaceMobile (ASTS): Most Confusing Success Story Ever!?
Shares of AST SpaceMobile (ASTS) are trading about 5% lower this afternoon (they were down more earlier) despite the company announcing the highly anticipated launch of its first five BlueBird satellites went smoothly early this morning.
As you know if you’re following this story, the company is working to create the first and only space-based cellular broadband network accessible directly from your average cellphone.
This first launch is a MASSIVE step in the right direction.
Yes, we now move on to more investment and more satellite launches, etc. But this is a milestone for sure.
Maybe it’s the old cliché, buy the rumor sell the news. Or maybe investors are now thinking the company will immediately tap the market for an equity raise. The company filed a $400 million equity distribution agreement last week, and that will remain open. But no shares are being sold immediately.
In any event, this is a bit of a wild ride, and we’re along for it, for now. Celebrating this successful launch and keeping ASTS at hold. HOLD HALF
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