AST SpaceMobile (ASTS) stock jumped as much as 7.4% in premarket trading Wednesday after the company successfully launched three next-generation BlueBird satellites aboard a SpaceX Falcon 9 rocket.
The launch took place at 2:39 a.m. EDT from Cape Canaveral, Florida, adding BlueBird 8, 9, and 10 to the constellation. ASTS was up 4.8% in premarket at last check, while SpaceX (SPCX) was gaining 3.4%.
The new Block 2 satellites are a step up from the first generation. Each features an array of roughly 2,400 square feet and is built to deliver peak data speeds of nearly 200 Mbps directly to standard, unmodified smartphones — nearly double the 98.9 Mbps peak demonstrated by the Block 1 BlueBirds.
The launch comes at a good time for AST SpaceMobile. In April, the company lost a satellite during a failed Blue Origin launch, which rattled investors and raised questions about whether the 45-satellite target by year-end was still achievable.
Wednesday’s successful deployment brings the total number of ASTS satellites in orbit to nine. That’s progress, but the company still has a long way to go.
AST SpaceMobile needs at least 45 satellites in orbit to launch commercial service in northern latitudes. Satellites 11 through 33 are reported to be in advanced stages of production and assembly, keeping the year-end target alive.
Investors aren’t fully in the clear yet, though. The newly launched satellites are unusually large, and confirmation that they’ve successfully unfurled and are operating correctly could take several weeks.
The broader space sector has also been getting a lift from SpaceX’s recent public market debut. SpaceX closed Tuesday as the fifth most valuable company in the world, up nearly 50% from its IPO price of $135 last Friday. That enthusiasm has spilled over into space-related names, with ASTS among the biggest beneficiaries.
There’s an interesting wrinkle here. SpaceX is both a launch provider for AST SpaceMobile and a direct competitor. Its Starlink Mobile service is targeting a similar direct-to-device broadband offering by the end of next year.
That dynamic makes Wednesday’s mission a win for both companies. For SpaceX, it reinforces its position as the go-to commercial launch provider — even for rivals. For ASTS, it moves the needle on a buildout that investors have been watching closely.
The broader market wasn’t cooperating. The Nasdaq fell 1.15% and the S&P 500 slipped 0.57% on Wednesday. ASTS’s premarket pop stands out against that backdrop.
The stock is still well off its 52-week high of $133.86. Since SpaceX’s IPO last Friday, ASTS has actually fallen 15%.
The next key milestone will be confirmation that BlueBird 8, 9, and 10 are fully operational — a process that could take weeks.
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