AST SpaceMobile (ASTS) Jumps 19.7% W/W on Vodafone Deal
AST SpaceMobile rallied by 19.7 percent week-on-week, from $38.37 to $45.94, after bagging a deal with Vodafone Idea to expand mobile connectivity across India's unconnected regions.
In a statement, AST SpaceMobile and Vodafone Idea are set to develop a SpaceMobile Satellite System that will expand the latter's telecom services, such as voice, video, data streaming, and internet access.
The partnership will also cover the development and management of the satellite constellation, while Vodafone Idea will oversee terrestrial network integration, operating spectrum, and market access.
An aerial view of a communications satellite in orbit, beaming its signal down to Earth.
'[Vodafone Idea] has always been committed to leveraging technology to connect every Indian and we see satellite communication as a complement to terrestrial connectivity. As satellite-based mobile access becomes a reality in India, we are looking forward to ushering in a new era of seamless and resilient connectivity,' said Avneesh Khosl,a Chief Marketing Officer.
While we acknowledge the potential of ASTS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
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