Stock Track | AST SpaceMobile Soars 8.93% Intraday on Rakuten Joint Venture and Satellite Launch Plans

Stock Track06-29

AST SpaceMobile, Inc. (ASTS) stock soared 8.93% during intraday trading on Monday, extending its recent rebound momentum.

The rally is supported by the company's announcement of plans to form a joint venture with Japan's Rakuten Group to offer direct-to-mobile satellite communications services in Japan. According to reports, the two companies will hold approximately equal stakes in the venture, with Rakuten leading management. The service is expected to roll out in phases starting late this year, with nationwide coverage targeted for fiscal 2027 and potential for global expansion thereafter.

Additionally, the company confirmed that BlueBird satellites 11, 12, and 13 are targeted for launch aboard a Falcon 9 rocket in the first half of August, which will further expand its direct-to-smartphone broadband network. The broader space sector has also shown signs of stabilization following recent declines, contributing to improved investor sentiment.

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