Is AST SpaceMobile a Millionaire-Maker Stock?
The latest exciting news out of AST SpaceMobile (NASDAQ: ASTS) is that it has delivered five satellites to Cape Canaveral. This is the first step toward actually offering the space-based cellular broadband network it is building. If it can get that system up and running, AST SpaceMobile could be a millionaire-maker stock. But don't get too excited; this is just one small step on the road to a full-fledged service offering.
The problem with AST SpaceMobile today is that it really only has one functioning satellite in orbit. That satellite was put up in late 2022 and was used to prove that the company's goal of creating a space-based cellular broadband network that worked with existing cellphones was possible. Right now, that's all AST SpaceMobile has to offer the world -- a successful proof of concept.
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