What's Going On With AST SpaceMobile Stock On Wednesday?
Portfolio Pulse from Anusuya Lahiri
AST SpaceMobile Inc (NASDAQ:ASTS) shares surged after announcing a $100 million partnership with Verizon Communications Inc (NYSE:VZ) to provide direct-to-cellular service. The deal includes $65 million in commercial prepayments and $35 million in convertible notes. AST SpaceMobile also has agreements with over 45 mobile network operators globally. The stock is up 19.50% premarket.
May 29, 2024 | 12:56 pm
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NEUTRAL IMPACT
Apple previously partnered with Globalstar for satellite services, allocating $450 million to support emergency SOS via satellite for the iPhone 14 lineup.
Apple's previous partnership with Globalstar for satellite services is mentioned for context. The news does not directly impact Apple's stock price.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 30
NEUTRAL IMPACT
Globalstar partnered with Apple to provide satellite services for emergency SOS via satellite for the iPhone 14 lineup.
Globalstar's partnership with Apple is mentioned for context. The news does not directly impact Globalstar's stock price.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 30
NEUTRAL IMPACT
AST SpaceMobile previously inked a deal with AT&T to provide a space-based broadband network directly to cell phones.
The previous partnership between AST SpaceMobile and AT&T is mentioned for context. The news does not directly impact AT&T's stock price.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
AST SpaceMobile shares surged after announcing a $100 million partnership with Verizon to provide direct-to-cellular service. The deal includes $65 million in commercial prepayments and $35 million in convertible notes.
The partnership with Verizon is a significant commercial milestone for AST SpaceMobile, providing a substantial financial commitment and potential for expanded market coverage. This news has led to a sharp increase in the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Investors can gain exposure to AST SpaceMobile stock via Procure Space ETF (NASDAQ:UFO).
The rise in AST SpaceMobile's stock price could positively impact the Procure Space ETF, which includes AST SpaceMobile in its holdings.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Verizon announced a $100 million partnership with AST SpaceMobile to provide direct-to-cellular service, including $65 million in commercial prepayments and $35 million in convertible notes.
The partnership with AST SpaceMobile enhances Verizon's service offerings and market reach, which could positively impact its stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Investors can gain exposure to AST SpaceMobile stock via SPDR S&P Telecom ETF (NYSE:XTL).
The rise in AST SpaceMobile's stock price could positively impact the SPDR S&P Telecom ETF, which includes AST SpaceMobile in its holdings.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60