AST SpaceMobile Stock Is Up Today: What's Going On?

AST SpaceMobile Inc ASTS shares are trading higher. The company announced an agreement to ramp up marketing of its technologies to the military market Monday morning.

What Happened: AST SpaceMobile inked a teaming agreement with Fairwinds Technologies to explore potential opportunities to jointly market the company's planned services and innovative satellite technologies to the military market.

"Our space-based cellular broadband network is being designed to offer new capabilities, including potential applications for the Tactical Military Communications mission scope, which could offer a next-generation, resilient alternative to existing technologies," said Chris Ivory, chief commercial officer of AST SpaceMobile.

AST SpaceMobile is building a space-based cellular broadband network accessible directly by standard mobile phones. Fairwinds is a U.S. Government prime contractor with experience designing solutions for defense and civilian agencies.

AST SpaceMobile is among the top trending tickers on Stocktwits at publication time. According to Benzinga Pro, 21.08% of the company's float is currently sold short. 

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ASTS Price Action: AST SpaceMobile shares were up 10.6% at $6.91 at time of publication, according to Benzinga Pro.

Photo: WikiImages from Pixabay.