Latest news with #ASTS
Business Insider
10 hours ago
- Business
- Business Insider
A YOLO stock trade and a frugal lifestyle: One millennial's unorthodox — and risky — path to being done with retirement saving by 35
In January, 35-year-old Corey Forsythe stopped making automatic monthly contributions to his retirement account. After eight years of saving and investing, he said he hit $1.125 million across his investments in index funds, stocks, and a 401(k) retirement account. By his calculation, it was enough to fund $120,000 a year in retirement starting at age 60. Forsythe, a pharmacist, has reached Coast FIRE, a subcategory of the FIRE (Financial Independence, Retire Early) movement, meaning that he's saved enough for retirement and can now let his investments grow on their own while he focuses solely on covering his other expenses. " Coast FIRE always reminded me of when, in pharmacy school, I would try as hard as I could at the beginning of the semester so that by the time the final exam came around, I only needed to get above a 20% or 30% on the test," Forsythe said. "That's how I view Coast FIRE, try really hard and invest as much as possible so that later on you can coast and enjoy your life while you're still young enough to." At the beginning of his Coast FIRE journey, Forsythe aimed to invest $500,000 of his earned income relatively early in his career, which he broke down into a 70/20/10 split. He would allocate 70% of that $500,000 to a mutual fund tracking the broader stock market, 20% of it to an individual stock pick, and keep the remaining 10% in a cash emergency fund. After reaching his $1.125 million Coast FIRE goal in January, Forsythe has been putting his extra money into a savings account to build up his cash reserves. His total holdings across accounts have grown to surpass $2 million, documents viewed by Business Insider showed. A YOLO stock bet While Forsythe certainly followed conventional Coast FIRE tactics such as living frugally and investing regularly, a key part of his success can be attributed to a single so-called YOLO bet — defined as an aggressive, high-risk strategy where an investor dedicates a large chunk of their portfolio to a single trade. Forsythe made his YOLO bet on AST SpaceMobile (ASTS), which he first came across on the Reddit forum r/WallStreetBets in 2022. The stock has a niche following on Reddit and X, dubbed the " SpaceMob", which Forsythe has been monitoring along with company news and earnings reports over the last few years. Combining insights from the online community and his own research, Forythe said he built the confidence to buy 35,000 shares of the stock at $2.88 apiece in 2024. It amounted to a roughly $100,000 wager on ASTS at a time when sentiment was overwhelmingly bearish. The stock is now trading around $39, bringing Forsythe's ASTS holding to more than $1.2 million — and he says he hasn't sold any yet. He acknowledges the investment was a massive risk — and that other people shouldn't treat his good fortune as a replicable model — but it did work out well for him. Balancing student loan repayments and investing student-loan debt right away. "I have a lot of friends who are still trying to pay off their loans as fast as possible, even going as far as still living at home," Forsythe told BI. "After paying them off, their net worth was zero." To Forsythe, it didn't make sense to forgo stock-market returns to pay off his loans faster, particularly when early investing years are key to harnessing the power of compounding. Forsythe's strategy has been to pay off the minimum required balance while still prioritizing investing in the stock market. He's enrolled in the Pay As You Earn repayment plan, which requires him to pay 10% of his discretionary income monthly, which comes out to around $950. After 20 years of qualifying payments, his remaining student loans will be forgiven. Frugal living Coast FIRE wasn't just the product of a risky, well-timed stock bet. Forsythe lived extremely frugally after graduating from pharmacy school. "I kept living like a college student," Forsythe said. "Keeping fixed costs under control is, in my opinion, one of the most underrated FIRE tools." Being a single person with a six-figure pharmacist income definitely made budgeting more straightforward for Forsythe. His monthly budget hovered around $3,000. Other than student loan repayments, Forsythe's biggest monthly expense was his $750 mortgage payment; he had snagged a 625-square-foot condo during the pandemic and locked in a low mortgage rate. Forsythe credits his low housing costs as one of the biggest factors that allowed him to invest aggressively in his brokerage account tracking the stock market. During his high-saving years, he invested between $42,000 to $50,000 annually. "All of the money that I'm earning now, I can just put away, use for travel, go to concerts. I've started to live life a lot more instead of being frugal my whole life," Forsythe said. "It's allowed me to have less stress at work because all I need to do is cover my living expenses."
Globe and Mail
a day ago
- Business
- Globe and Mail
Why a Trump-Musk Feud Could Mean Big Wins for AST SpaceMobile
[content-module:CompanyOverview|NASDAQ:ASTS] But a five-day return of more than 38% could scare many investors off unless there's reason to believe it could be part of a longer-term rally. The major boost to ASTS stock coincided with a highly publicized dispute between President Trump and Elon Musk. Though this feud is not the sole reason ASTS shares have skyrocketed in recent weeks, it is likely the primary driver of this performance. Ultimately, much of the rally aligning with the Trump-Musk back-and-forth probably stems from speculation. Nonetheless, it reveals some critical considerations investors should make about AST SpaceMobile and the rapidly evolving landscape of space companies. Feud Casts Doubt on Starlink AST SpaceMobile has experienced striking growth in recent months, surging by nearly 262% in the last year. However, a lingering thorn in its side is Starlink, the satellite internet service provider subsidiary of Musk's aerospace company SpaceX. Starlink's threats to AST became more significant after last November's election and Musk's close relationship with Trump. Indeed, reports indicated that Starlink began to expand its reach across federal government agencies early into the new Trump administration. Investors in AST and other publicly traded competitors may have worried that Musk's partnership with Trump could result in a monopoly for Starlink. With an estimated two-thirds of internet satellites in orbit being represented by Starlink after the election, this risk appeared likely only to grow. An issue for other satellite-based providers is that there is finite orbital capacity, meaning that once a certain number of satellites are in place at particular orbits, it is difficult or impossible for others to be added. Starlink's early advantage still has the potential to crowd out other companies from getting infrastructure in place, despite AST's moves to rapidly launch a growing number of its own satellites. However, the recent rift between Musk and Trump may have threatened Starlink's advantage. Trump responded to Musk's criticism of the former's signature proposed spending bill by floating the idea of canceling federal contracts held by Musk's companies, presumably including SpaceX. Musk also signaled his willingness to pull back from prior partnerships by suggesting that SpaceX would discontinue the Dragon spacecraft previously used for International Space Station missions, although he later retracted that statement. Potential Impact for AST SpaceMobile While investor response to the public dispute arising between Musk and Trump is speculative, the boost has so far been priced into ASTS shares. This adds to a series of positive developments for AST SpaceMobile, making it an increasingly attractive prospect for many buyers. [content-module:Forecast|NASDAQ:ASTS] The firm has made significant progress in building out its infrastructure, both in terms of satellite launches over recent months and in a series of lucrative, high-profile partnerships with existing telecommunications providers. The company has also recently secured important agreements with multiple government agencies, independently of any developments related to Musk and Starlink. A coordination agreement with the U.S. National Science Foundation and a $43-million new contract award in support of the United States Space Development Agency are prime examples. Another key development for AST is its shift toward commercialization. In its first-quarter earnings, the company said it expects to activate initial cellular broadband capabilities across multiple continents in the coming quarters thanks to partnerships with telecommunications companies in the United States, Europe, and Japan. This is forecast to lead to revenue opportunities of between $50 million and $75 million in the second half of 2025. AST Remains Attractive, Despite Starlink Uncertainty Investors will likely have a hard time predicting whether a blossoming feud between Trump and Musk continues to develop or fade away, and it will be even harder to decipher the potential impacts for Starlink and its competitors. However, AST is an attractive prospect on its own, regardless of these external factors, and is worth investor attention as it continues to expand its reach into a massive addressable market. Where Should You Invest $1,000 Right Now? Before you make your next trade, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.
Yahoo
4 days ago
- Business
- Yahoo
AST SpaceMobile Stock (ASTS) Rallies Alongside Surging Demand for Satellite Internet
AST SpaceMobile Inc. (ASTS) is helping shape the future of global internet connectivity through its ambitious satellite-based technology. With the potential to expand reliable internet access to remote and underserved regions, support growing government contracts, and meet the rising demands of data connectivity across industries, satellite internet is emerging as a transformative force in communications (and the stock market). Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter The market for satellite internet is projected to grow rapidly, with analysts estimating it could reach $24.6 billion by 2030, representing a compound annual growth rate of 30%. ASTS stock is following this trend, recording a surging 14% gain over the past week and a 47% gain year-to-date. What sets ASTS apart is its goal to connect standard, unmodified smartphones directly to satellites—unlike competitors such as SpaceX's Starlink, which requires proprietary equipment, or Amazon's (AMZN) Project Kuiper, which focuses on fixed installations. If successful, ASTS could dramatically improve connectivity for billions of people, especially in regions where only about 34% of the Earth currently has cellular coverage. The company has made notable progress toward key technical and operational milestones and holds sufficient capital to support its near-term plans. While ASTS remains a speculative investment at this stage, I believe its long-term potential is significant and view the upside as compelling. AST SpaceMobile's direct-to-smartphone approach requires no special hardware or apps, which could be a game-changing development. This technology could unlock massive markets, particularly in developing countries where traditional internet infrastructure is limited. The company plans to launch five satellites over the next six to nine months, starting with its first Block 2 BlueBird satellite in July 2025. If these launches proceed smoothly, ASTS could begin generating meaningful revenue from both government contracts and commercial partnerships in short order. Manufacturing is another potential key advantage. The company aims to build the capability to produce six satellites per month by late 2025, which would enable rapid network expansion once the technology is proven in orbit. AST SpaceMobile is still in its early stages, burning through cash as it builds its satellite network. The company reported revenue of just $718,000 for Q1 2025, falling well short of the $4 million that analysts expected. The company also reported a net loss of $45.7 million, which is significantly wider than the loss it incurred in the previous year. However, the spacefarer has significantly strengthened its financial position, raising over $500 million in recent funding rounds. With $874 million in cash on hand and manageable debt levels, ASTS has enough runway to execute its plans for at least the next 12 months. Management is projecting dramatic revenue growth with a projected second-half 2025 revenue of $50 million to $75 million. Of course, these projections depend entirely on the successful launch of its satellites and the activation of commercial services, highlighting the crucial role execution plays in the company's near-term success. AST SpaceMobile is ambitiously pushing the boundaries of satellite communications, but that journey (like so many novel technologies) comes with inherent risks that investors should carefully weigh. As AST seeks to fill the gaps of global connectivity, its success hinges on flawless execution. Any hiccup in launching its satellites or deploying its technology could trigger a swift adverse reaction in the share price. The company also faces competition from established titans like SpaceX and Amazon's Blue Origin. For AST to carve out a niche, swift market penetration is crucial to avoid being eclipsed by these well-resourced rivals. Further, establishing a global satellite network involves securing approvals from numerous countries. The layers of bureaucracy, red tape, and regulatory compliance that the company must navigate could slow its expansion timeline. Finally, the path to building a satellite network comes with a hefty price tag. The company is likely to need to raise additional capital in the future, which could result in the dilution of existing shares. The company has recently won several government contracts, including a $43 million deal with the U.S. Space Development Agency, which provides revenue visibility and validates the technology's potential. Meanwhile, members of the Blue Origin management team visited the AST headquarters in Texas recently, sparking speculation of a potential partnership with Amazon. While nothing has been confirmed, such a partnership could provide ASTS with additional resources and credibility. The stock has responded positively to the news (and rumors), with shares up over 23% in the past month, bullishly trading above major moving averages (20-day, 50-day, and 200-day). TipRanks currently rates AST SpaceMobile as a Strong Buy, based on the consensus of five analyst recommendations. The stock carries an average price target of $38.60, suggesting a potential upside of 24% over the next twelve months. AST SpaceMobile has caught Wall Street's attention. In a recent report by Scotiabank's Andres Coello, ASTS has been given a Buy rating, along with a price target of $45.40. Coello noted speculation surrounding potential interest from Amazon's Jeff Bezos, especially after a recent Instagram post hinted at possible collaborations with Blue Origin. Meanwhile, Cantor Fitzgerald's Colin Canfield has reiterated an Overweight rating with a $30 price target, highlighting the company is nearing its full-year revenue guidance for the first time, backed by constructive updates on satellite deployment and defense equipment bookings. He notes optimism surrounding the company's strategic moves, despite an anticipated rise in deployment costs. AST SpaceMobile is at the forefront of next-generation global connectivity. The market opportunity is significant, and the underlying technology holds considerable promise. That said, the company faces a range of challenges, including technical hurdles, funding requirements, regulatory complexities, and intense competition. This investment may not be appropriate for all investors. Still, for those with a higher risk tolerance, ASTS offers exposure to potentially game-changing innovation in the rapidly expanding satellite internet sector. With the satellite internet revolution approaching, I remain optimistic about AST SpaceMobile's potential to play a leading role in shaping its future. Disclaimer & DisclosureReport an Issue Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
5 days ago
- Business
- Yahoo
Musk-Trump Space Showdown Sends Rocket Lab Shares Soaring
June 9 - Rocket Lab USA Inc (NASDAQ:RKLB) shares climbed about 8% on Monday as investors reacted to a weekend spat between SpaceX CEO Elon Musk and former President Donald Trump. The feud began when Musk criticized Trump's proposed tax legislation on X, prompting Trump to suggest cutting Musk's government contracts. Musk fired back, hinting he might decommission SpaceX's Dragon spacecraft, currently the only U.S. vehicle for ferrying astronauts to the International Space Station, before retracting the comment. Over the weekend, Musk posted that we have got the spaceships, and they do not, implying U.S. reliance on SpaceX. That argument appears to be fueling interest in rival aerospace firms. RKLB, which holds multiple NASA contracts and is viewed as a contender for Trump's $175 billion Golden Dome missile defense initiative, saw its stock hit $31.21 in morning trading. AST SpaceMobile Inc (NASDAQ:ASTS) shares surged about 17% after reports suggested U.S. policymakers may look beyond SpaceX for various space investments. ASTS, a top customer of Blue Origin, inked a November launch deal with Jeff Bezos' company to deploy up to 45 satellites. Both RKLB and ASTS traded on above-average volume, signaling heightened investor focus on alternative space players amid the high-profile Musk-Trump clash. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
07-06-2025
- Business
- Yahoo
Why AST SpaceMobile, Inc. (ASTS) Soared On Thursday
We recently published a list of . In this article, we are going to take a look at where AST SpaceMobile, Inc. (NASDAQ:ASTS) stands against other best-performing stocks on Thursday. AST SpaceMobile extended its winning streak to a fourth straight day on Thursday, jumping 7.53 percent to close at $30.85 apiece as investors scrambled to ride on the growth opportunities from a potential tie-up with billionaire Jeff Bezos. Earlier this week, speculations surfaced about a potential tie-up between AST SpaceMobile Inc. (NASDAQ:ASTS) and Blue Origin following an Instagram post by the former's board member, Adriana Cisneros, showing herself alongside CEO Abel Avellan and Bezos, in a photo. An aerial view of a communications satellite in orbit, beaming its signal down to Earth. She also captioned: 'Amazing things are happening at AST & Science + Blue Origin.' Prior to the Instagram post, Blue Origin executives visited the AST SpaceMobile, Inc. (NASDAQ:ASTS) headquarters in Texas, with speculations that discussions may have gone beyond launch logistics to cover broader strategic and financial matters. AST SpaceMobile, Inc. (NASDAQ:ASTS) already holds a major commercial agreement with Blue Origin for the launch of up to 45 BlueBird Block 2 satellites, with the option to add 15 more. Overall, ASTS ranks 10th on our list of best-performing stocks on Thursday. 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. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
