The stock price of ASTS has skyrocketed!

AST Space Mobile is preparing to launch its most important satellite so far next month. On 8/15, the company announced the latest business information and results for the second quarter ahead of the milestone launch.

AST's stock price skyrocketed after financial results were announced. This is because investors are betting on the success of a major launch, and stock prices have risen more than 1,000% in the past 3 months.

Satellites preparing to launch

AST has surged in recent months after confirming that its first commercial launch is scheduled for early September. The company's five commercial satellites, BlueBird, are currently in Cape Canaveral, awaiting their next launch window.

These satellites are the largest communication arrays ever used commercially in low Earth orbit. This deployment was approved by recent Federal Communications Commission (FCC) license approval.

AST also aroused investor excitement with strong financial support from public telecommunications companies including AT&T, Verizon, and Vodafone. The company also has a number of telecommunications companies and the US government as customers.

It is natural that the company is bearing the costs associated with preparing for the satellite launch, but investors applauded the company's updated balance sheet. Due to new investments, cash and equivalents have reached almost 0.2 billion 90 million dollars as of June 30. It has increased sequentially since 0.2 billion 12 million dollars at the end of the first quarter.

Future attention will be on the launch window, which will begin on 9/11. However, some investors are already betting on the successful launch and deployment of AST's first 5 commercial satellites after today's update.