AST SpaceMobile’s deal with Verizon validates the boom in satellite stocks

AST SpaceMobile’s deal with Verizon validates the boom in satellite stocks



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Shares of AST SpaceMobile Inc. shot up further into record territory Wednesday, after the satellite company inked a commercial deal with Verizon Communications Inc. to help the telecommunications giant improve its wireless network.

That’s essentially what investors have been betting on as they sent satellite stocks soaring in recent months. And kudos to BofA Securities analyst Michael Funk, who said last month that low-Earth-orbit satellites presented a huge opportunity for companies like AST SpaceMobile

ASTS and SpaceX’s Starlink.



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