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AST SpaceMobile, Inc. (NASDAQ:ASTS) shares are trading higher on Friday. According to Benzinga Pro, ASTS stock has gained over 368% in the past year.
Investors can gain exposure to the stock via the Procure Space ETF (NASDAQ:UFO) and the Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:PTF).
The company confirmed that it will hold a quarterly business update conference call on Wednesday, August 14 at 5:00pm.
Yesterday, the company said it completed its first five commercial satellites it calls Bluebirds. The satellites are ready for shipment to Cape Canaveral during the first week of August, with a seven-day launch window in September.
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AST SpaceMobile noted that the Bluebird satellites have undergone rigorous testing to ensure they meet the demanding requirements of operations in space. The satellites are now in final preparations for shipment.
In a shareholder letter on July 1, the company’s CEO Abel Avellan highlighted the company’s strategic partnership with Verizon Communications Inc. (NYSE:VZ).
“The recent announcement of a strategic partnership with Verizon is another leap forward for AST SpaceMobile,” the CEO said.
“It builds upon the momentum of our earlier flagship commercial agreement with AT&T Inc. (NYSE:T), not only by securing additional capital in the form of prepayments and convertible notes, but more importantly, by accelerating our mission to eliminate connectivity gaps across the United States,” Avellan added.
Price Action: ASTS shares are trading higher by 11.1% to $18.50 at last check Friday.
Photo via Company
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