9 hours ago
AST SpaceMobile Eyes Record High Ahead of Russell 1000 Inclusion
A triple-digit rally in AST SpaceMobile Inc. this month shows no signs of stopping as it prepares to join the Russell 1000 Index after Friday's market close, potentially unlocking new demand from passive investors.
Shares of the Midland, Texas-based satellite manufacturer have soared 119% in June as of Thursday's close, lifting their year-to-date rally to 140% on investor enthusiasm over the firm's ambitious push to deliver broadband directly to smartphones. The eight-year-old company has yet to turn a profit, but the market is betting on future returns.
