AST SpaceMobile Climbs to 8th in WSB Rankings Amid Insider Trading Buzz and Satellite Milestone
AInvestTuesday, Sep 24, 2024 7:01 am ET
1min read
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AST SpaceMobile (ASTS) has risen to the 8th position in the latest WSB rankings, maintaining its previous spot. The company’s stock price saw a modest increase of 0.42% today.

On September 17, 2024, AST SpaceMobile disclosed insider trading activity involving executive Gupta Shanti B., who sold 25,600 shares on September 15. This follows a pattern of both buying and selling activities by other board members and executives over recent months, showcasing varied confidence levels among insiders.

Founded on May 28, 2019, in Delaware, AST SpaceMobile is a pioneering satellite designer and manufacturer, collaborating globally to build the first and only space-based cellular broadband accessible by standard smartphones. Its SpaceMobile network of low Earth orbit satellites aims to offer worldwide mobile broadband connectivity, providing a direct link to mobile phones and IoT devices across 2G to 5G bands.

Recently, SpaceX successfully launched the first batch of five BlueBird satellites for AST SpaceMobile, marking a significant milestone in the company's mission. These satellites will initially provide brief, intermittent connections within the United States, with plans to expand the network to 45-60 satellites for continuous service.

AST SpaceMobile’s progression into deploying BlueBird satellites represents a crucial advancement in offering space-based connectivity, fulfilling its commitment to bridging untapped communication gaps. As the company continues strengthening its strategic alliances with major telecommunication firms, its vision for a direct mobile broadband network is gradually becoming tangible.

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