AST SpaceMobile (ASTS) Soars 21% on Rakuten Satellite Deal

AST SpaceMobile Inc. (NASDAQ:ASTS) is one of the 10 Stocks Investors Are Chasing Right Now.

AST SpaceMobile rallied for a second day on Monday, surging 21.44 percent to close at $86.77 apiece, as investor sentiment was boosted by reports that it is partnering with the Rakuten Group for the development of a Japanese version of satellite internet service similar to Starlink.

A report by Nikkei said that Japan-based Rakuten Group is partnering with AST SpaceMobile Inc. (NASDAQ:ASTS) for a possible $1 billion joint venture, under which the parties would buy and operate satellites to establish a direct-to-mobile service. The report said that Japan’s coverage is targeted for next year.

Photo from AST SpaceMobile website

Additionally, AST SpaceMobile Inc. (NASDAQ:ASTS) rallied following confirmation that its next-generation BlueBirds 8, 9, and 10 are now fully operational in orbit, with its manufacturing pipeline now advancing all the way through BlueBird 37.

“BlueBirds 8, 9, and 10 are in orbit and operational; 11, 12, and 13 are next. Satellites in production through BlueBird 37,” the company said in a social media post.

Last week, AST SpaceMobile Inc. (NASDAQ:ASTS) said that it is scheduled to launch BlueBirds 11, 12, and 13 in the first half of August in line with its efforts to expand its space-based cellular broadband network designed to provide voice, data, video, directly to standard, unmodified smartphones everywhere.

“BlueBirds 11, 12, and 13 build on the momentum of our recent constellation and represent another important milestone as we prepare for commercial service. The progression from BlueBirds 8, 9, and 10 to this next mission, together with the continued production and assembly of satellites through BlueBird 37, reflects the strength of our manufacturing capabilities and our ability to steadily expand the network while we work to connect the unconnected and under-connected around the world,” President and CEO Scott Wisniewski said.

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