In a column this morning, I argued AST SpaceMobile (NASDAQ: ASTS), the former space special purpose acquisition company (SPAC) that now aims to build a constellation of 168 communications satellites costing at least $3 billion, should sell a lot of stock quickly, to raise the cash it needs.

A couple of hours later came AST's response: "No thanks. We're good."

I paraphrase, but that's what AST's announcement boils down to. With $440 million in pro forma cash available, AST says it's got all the money it needs to advance its business this year. Investors, cheered by the news, bid up AST stock 4.9% through 10:25 a.m. ET.

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Source Fool.com