Movement Alert｜AST SpaceMobile Rises 5.74% in Pre-Market Trading, Rakuten JV Expectations and Sector Stabilization Extend Rebound Momentum

Market Focus06-29 17:32

On June 29, AST SpaceMobile rose 5.74% in pre-market trading, trading at $75.75/share, with turnover of $8.94 million, extending the prior session's strong 8.88% rebound.

On the news front, the rally is supported by expectations surrounding the company's upcoming joint venture with Rakuten Group to offer direct-to-mobile communications in Japan. According to reports citing Rakuten CEO Hiroshi Mikitani, the two companies will hold approximately equal shares in the venture, with Rakuten leading management. The service is planned to roll out in phases starting late this year, with nationwide coverage in fiscal 2027 and potential global expansion thereafter.

Additionally, the company announced that BlueBird satellites 11, 12, and 13 are targeted for launch aboard a Falcon 9 rocket in the first half of August, further expanding its direct-to-smartphone broadband network. The broader space sector has stabilized following a cumulative 15%+ pullback, with SpaceX's capital siphoning effect fading and sector sentiment recovering significantly.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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