BlueWalker 3 Successfully Reaches Orbit On SpaceX Launch: Why AST SpaceMobile Stock Is Rocketing Higher

AST SpaceMobile Inc ASTS shares are trading higher Monday after the company announced that its BlueWalker 3 test satellite successfully reached orbit after being launched via Tesla Inc TSLA CEO Elon Musk's SpaceX Falcon 9 rocket over the weekend.

"Great news! #BlueWalker3 successfully reached orbit and our engineers are talking to the spacecraft. Stay tuned for future updates as the mission progresses," the company said via tweet Sunday morning. 

The phased array on BlueWalker 3 is the largest commercial communications array ever deployed to low Earth orbit. The large array of antennas is designed to connect directly to existing mobile phones from a much longer distance than traditional cell towers. The BlueWalker 3 is set to conduct testing with mobile network operators on six continents following the launch.

AST SpaceMobile is building a global cellular broadband network in space to operate directly with standard, unmodified mobile devices.

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ASTS Price Action: AST SpaceMobile has a 52-week high of $14.27 and a 52-week low of $4.84.

The stock was up 7.11% at $11.53 at time of publication, according to Benzinga Pro.

Photo: courtesy of SpaceX.