AST SpaceMobile (NASDAQ:ASTS) is one of the hottest stocks today. Trading volume and prices are climbing, and there’s nothing of note coming from the company’s PR team. While this is a bit of an odd time for ASTS stock, this is a company you should get to know.
So what is this company that’s suddenly moving huge amounts of shares on what seems to be a no-news day?
Here’s what you need to know about AST SpaceMobile.
What to Know About ASTS Stock Today
- AST SpaceMobile is trying to build a one-of-a-kind, solely space-based broadband cell phone network. The main goal is to eliminate any 5G gaps worldwide, making itself the most highly covered network in the world.
- Unfortunately for the curious, the company will not yet disclose how its technology seeks to achieve this goal. We know AST employees are busy at work though, as the company recently filed for its 1000th patent. These patents span a variety of different space communication markets, including satellite architecture, energy efficiency, and deployment.
- The company only recently became publicly traded, hitting the Nasdaq in April of this year.
- However, 21% of the ASTS float is already short.
- You might think that today is a r/WallStreetBets day, seeing how the stock is moving without any news and the large short interest. Almost 10 million shares have traded hands already, against the its 1.8 million daily average.
- However, this isn’t the product of r/WallStreetBets. Mentions of ASTS stock on the message board are very few and far-between as retail investors focus their efforts on other short-squeeze plays.
- The stock is a hotly contested one. Some analysts are on the short side of ASTS, like InvestorsOberserver, which grades ASTS as a strong sell. Some though, like InvestorPlace analyst Luke Lango, think the fledgling space communications company has some seriously major growth potential.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.