What's Going On With AST SpaceMobile Stock?
Portfolio Pulse from Erica Kollmann
AST SpaceMobile, Inc. (NASDAQ:ASTS) shares are trading lower on Friday after gaining more than 13% on Thursday. The company received FCC approval to launch its first five commercial BlueBird satellites, which have arrived in Cape Canaveral for a planned launch in September. The stock is trending on WallStreetBets, and 18.21% of its shares are being sold short, contributing to volatility. Analysts have an average 12-month price target of $12.95, with no recent adjustments.
August 09, 2024 | 5:06 pm
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AST SpaceMobile shares are down 6.27% after gaining 13% on Thursday. The company received FCC approval to launch its first five BlueBird satellites, which have arrived in Cape Canaveral for a planned launch in September. The stock is trending on WallStreetBets, and 18.21% of its shares are being sold short, contributing to volatility. Analysts have an average 12-month price target of $12.95, with no recent adjustments.
The stock is experiencing high volatility due to a combination of positive news (FCC approval and satellite launch) and high short interest. While the long-term outlook may be positive, the short-term impact is neutral as the stock adjusts to recent gains and market sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100