What's Going On With AST SpaceMobile Tuesday?

AST SpaceMobile, Inc. ASTS is experiencing movement in its stock price Tuesday. Here’s what you need to know.

What To Know: The session volume stands at 6.772 million shares, significantly higher than the stock’s 100-day average volume of 11.084 million shares.

What Else: Earlier this month, Chairman and CEO Abel Avellan published a letter to partners, shareholder and future users of the company’s space-based cellular broadband network. The key highlight of the letter is AST SpaceMobile’s strategic partnership with Verizon Communications Inc. VZ, building on its existing agreement with AT&T Inc. T.

AST SpaceMobile plans to deploy the largest commercial communications satellite in low Earth orbit. This satellite array will act as a giant cell tower, providing strong signals directly to standard smartphones.

In recent company developments, AST SpaceMobile appointed Andrew Johnson to the additional role of chief financial officer while continuing as chief legal officer. Additionally, Shanti Gupta, previously chief accounting officer, was promoted to chief operating officer.

ASTS Price Action: AST SpaceMobile shares were up by 8.9% at $13.94 ahead of the close Tuesday, according to Benzinga Pro.

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