Why AST SpaceMobile Stock Is Up Today
Space-based telecom company AST SpaceMobile (NASDAQ: ASTS) reported progress in commercializing its tech during its most recent quarter. That has investors excited about what is to come, sending shares up as much as 6.6% on Tuesday.
AST is a developmental space company with tech that it says can turn any cellphone into a satellite phone, able to communicate with an AST-owned satellite. It is an expensive, risky proposition, but if it works as intended, it could find a massive market among those with poor terrestrial service today or those who travel frequently.
The company's latest quarterly report disclosed AST's first successful two-way voice call between a satellite and a smartphone. The tests went to plan, demonstrating 4G and even 5G speeds on data links. The company said the tests confirmed no major changes were needed to its block 1 satellite design.
Source Fool.com
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