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AST SpaceMobile (NASDAQ:ASTS) is 8.9% decrease as traders await information on a key catalyst for the corporate’s plans to supply satellite-based cell phone connectivity.
The corporate efficiently launched its BlueWalker 3 take a look at satellite tv for pc into orbit in mid-September, and CEO/Chairman Abel Avellan stated in early October that management of the satellite tv for pc from floor stations had been beneath method for about three weeks.
Buyers have been watching Nov. 10 because the time for an announcement that BlueWalker 3’s array is totally unfolded – which might set the stage for operational testing of the corporate’s mission: direct name connectivity between a satellite tv for pc and odd cell phone.
That makes the deliberate “unfurling” a high-stakes occasion, and strikes within the inventory are risky. Quantity on Wednesday is not out of the odd, and the market is broadly decrease in its first response to midterm elections. The inventory is closely shorted, nevertheless, with about 25% of the float held quick.
AST SpaceMobile (ASTS) was topic to a brief report from Kerrisdale Capital in mid-September. And Barclays lately trimmed its worth goal, however stayed bullish on what it referred to as the “binary” alternative for fulfillment with the satellite tv for pc.
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