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Why AST SpaceMobile Stock Is Up Today

TheMotleyFool

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Shares of AST SpaceMobile (NASDAQ: ASTS) soared as much as 50% higher on Wednesday morning after Deutsche Bank initiated coverage with a buy rating and set a sky-high price target.

AST SpaceMobile has attracted a lot of attention since joining public markets back in April via a SPAC merger. The company has a plan to turn the world's cellphones into satellite phones using what it calls a "highly proprietary" technology that it hasn't really explained in full.

Image source: Getty Images.

Source Fool.com

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