AST SpaceMobile, Inc. (ASTS) saw its stock price soar 5.05% during intraday trading on Thursday, marking a significant upward movement for the company building a cellular broadband network in space.
The surge appears linked to positive sentiment sweeping through the space industry following news that Elon Musk's rocket company, SpaceX, filed a prospectus for a stock offering that could raise $80 billion or more. Other space-based businesses, including Virgin Galactic, also advanced, while shares of some rivals like Rocket Lab declined.
Market coverage highlighted that AST SpaceMobile's stock jumped more than 4% as investors reacted to the SpaceX filing, suggesting increased attention and optimism for companies in the broader space sector.