Why AST SpaceMobile Shares Are Popping Today?

AST SpaceMobile Inc ASTS shares are trading higher after it disclosed the achievement of 4G capabilities to smartphones directly from space. 

The company confirmed achieving repeated successful download speeds above 10 Mbps during the testing of the BlueWalker 3 satellite. 

Notably, ASTS engineers used AT&T Inc T spectrum and Nokia Oyj NOK RAN technology for 4G LTE download speed testing. 

The company is targeting to enable 5G cellular broadband as the next significant activity.

"AST SpaceMobile's space-based cellular capabilities are designed to be a critical extension for cellular communications. In addition to supporting basic voice and text that we expect from phones, it would also enable users to browse the internet, download files, use messaging apps, or stream video," said Abel Avellan, Chairman and CEO. 

In April, the company launched the first-ever space-based voice calls to everyday unmodified smartphones via the BlueWalker 3 satellite. 

Price Action: ASTS shares are up 5.5% at $6.42 on the last check Wednesday.