AST SpaceMobile (NASDAQ:ASTS) stock is rising higher on Thursday as investors squeeze the shares despite a lack of news.
Right now, it looks like investors are speculating that future events for this company warrant a stake in ASTS stock. This includes the upcoming launch for its BlueWalker 3 test satellite, which recently arrived at Cape Canaveral.
The BlueWalker 3 satellite has already completed tests in California and is set to launch from Cape Canaveral sometime in mid-September. AST SpaceMobile plans to launch the satellite into low Earth orbit.
A Potential ASTS Stock Catalyst Is Coming Next Week
That’s not the only news traders are expecting to see from AST SpaceMobile soon. The company is also preparing to release its quarterly earnings report next week. The report will drop after markets close on Monday with a conference call scheduled for 5:00 p.m. Eastern.
Today, ASTS stock is seeing some heavy trading. As of this writing, more than 5 million shares have been traded. That’s quite the increase when compared to the company’s daily average trading volume of around 808,000 shares.
Of course, that doesn’t mean traders should dive right into ASTS stock. Although speculation is pushing it higher today, the momentum may not last. If so, traders could soon see red despite hoping for green.
ASTS stock is up 30% as of Thursday afternoon. Shares are also up more than 45% since the start of the year.
There’s more stock market news that traders will want to read about below!
InvestorPlace is home to all of the latest stock news with our daily market coverage. A few examples for Thursday include everything happening with shares of Arrival (NASDAQ:ARVL), Nio (NYSE:NIO) and Li Auto (NASDAQ:LI) stock. You can find out more at the following links!
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