Stock Track | AST SpaceMobile Soars 9.31% Intraday on FCC Approval for 248-Satellite Constellation

Stock Track04-22

AST SpaceMobile, Inc. (ASTS) experienced a significant intraday surge of 9.31% on Wednesday, marking a sharp upward movement in its trading session.

The rally was primarily driven by the company receiving commercial authorization from the U.S. Federal Communications Commission (FCC) to deploy and operate a constellation of up to 248 low-Earth orbit satellites. This regulatory milestone grants AST SpaceMobile the authority to provide direct-to-device cellular broadband service from space across the United States, using 700 MHz and 800 MHz spectrum bands.

The approval enables the company to operate its space-based network in coordination with mobile network operator partners, including Verizon, AT&T, and FirstNet, enhancing coverage and network resilience. This development is seen as a critical step for AST SpaceMobile as it moves closer to launching commercial services and competing in the satellite-based connectivity market.

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