AST SpaceMobile (ASTS) Jumps 10.6% on Vodafone Deal

We recently published a list of These 10 Stocks Boast Double-Digit Gains Amid Boring Market. AST SpaceMobile Inc. (NASDAQ:ASTS) is one of the best-performing stocks on Thursday.

AST SpaceMobile rallied by 10.6 percent on Wednesday to close at $44.35 apiece as investors cheered its partnership with Vodafone Idea (Vi) to expand mobile connectivity across India’s unconnected regions.

In a statement, AST SpaceMobile and Vi will join forces for the establishment of SpaceMobile Satellite System that will expand the latter’s telecom services including voice, video, data streaming, and internet access.

Under the agreement, AST SpaceMobile Inc. (NASDAQ:ASTS) will develop and manage the satellite constellation while Vi will oversee terrestrial network integration, operating spectrum, and market access.

An aerial view of a communications satellite in orbit, beaming its signal down to Earth.

“Vi has always been committed to leveraging technology to connect every Indian and we see satellite communication as a complement to terrestrial connectivity. As satellite-based mobile access becomes a reality in India, we are looking forward to ushering in a new era of seamless and resilient connectivity,” said Avneesh Khosla Chief Marketing Officer.

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Disclosure: None. This article is originally published at Insider Monkey.