Movement Alert|AST SpaceMobile Rises 7.47% in Regular Trading, Rakuten JV and Satellite Launch Plans Boost Sentiment

Market Focus06-29 21:31

On June 29, AST SpaceMobile rose 7.47% in regular trading, trading at $76.39/share with turnover of $156 million, extending a strong rebound after gaining 8.88% in the prior session.

On the news front, AST SpaceMobile announced plans to form a joint venture with Japan's Rakuten Group later this year to offer direct-to-mobile satellite communications in Japan. Rakuten CEO Hiroshi Mikitani stated the companies will hold approximately equal stakes, with Rakuten leading management. The service is expected to roll out in phases starting at the end of the year, expanding nationwide in fiscal 2027 with potential global reach thereafter.

Additionally, the company confirmed that BlueBird satellites 11, 12, and 13 are targeted for launch aboard a Falcon 9 rocket from Cape Canaveral in the first half of August, each equipped with approximately 2,400-square-foot commercial communications arrays. The space sector has also stabilized following a prior pullback exceeding 15%, with diminishing capital rotation effects supporting broader sector recovery.

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