Why AST SpaceMobile Stock Popped on Monday
AST SpaceMobile (NASDAQ: ASTS) stock is on the move again Monday. Today's gain is about 2.3% as of 12:20 p.m., although the stock's bopping around quite a bit, and if you blink, it might just as easily go down as up.
Credit for today's turbulence goes to Scotiabank analyst Andres Graham, who this morning lifted his price target on AST stock from $28 to $45.90 -- a very precise valuation on a stock that isn't particularly easy to value (because it has no profits).
Graham denies his new price target is tied to any "short-term trading opportunity" in AST. He takes the long view, arguing AST has a superior satellite technology that could one day make it "the world's largest wireless company by subscribers."
Source Fool.com
