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Why AST SpaceMobile Stock Popped 7% on Tuesday
ASTSAST SpaceMobile(ASTS) The Motley Fool·2024-06-11 15:46

AST SpaceMobile still needs cash. This is not the way to get it.AST SpaceMobile (ASTS 5.78%) stock jumped 6.8% through 11 a.m. ET Tuesday, and for a most surprising reason. The cellphones-to-satellites-to-cellphones communications company filed a Form S-3 with the Securities and Exchange Commission (SEC) this morning, advising that one of its shareholders intends "from time to time" to sell up to 10.4 million shares of AST.Is bad news suddenly good news?Selling AST stock now makes a lot of sense. Thanks in ...