Why Is Satellite Company AST SpaceMobile Stock Soaring On Tuesday?

AST SpaceMobile, Inc ASTS disclosed in filing for the resale of up to 10.45 million shares by selling stockholders.

The satellite designer and manufacturer is also trading higher in sympathy with Apple Inc’s AAPL launch of iOS 18 with satellite messaging during its annual developer event.

iPhone 14 and later users can now send messages via satellite, even when cellular connections are unavailable.

They can also send emojis with tapback and enjoy text effects like jitter, shake, and bounce.

In 2024, Verizon Communications Inc VZ and AT&T Inc T collaborated with AST SpaceMobile, Inc ASTS to provide a broadband network directly to cell phones.

Globalstar GSAT stock also traded higher on Tuesday. In 2022, Apple tapped Globalstar to enable its iPhone 14 and iPhone 14 Pro models to send messages via a satellite outside cellular and Wi-Fi coverage.

AST SpaceMobile stock gained over 53% in the last 12 months. Investors can gain exposure to the stock via iShares Russell 2000 ETF IWM and iShares Russell 2000 Growth ETF IWO.

ASTS Price Action: AST SpaceMobile shares were up 1% at $9.41 at the last check on Tuesday.

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