AST SpaceMobile (ASTS) Stock Rises 14% as Rakuten Venture Overshadows Revenue Miss

TLDR AST SpaceMobile (ASTS) closed at $36.89 on Monday, up 14.1%. The company and Rakuten will form Rakuten AST to bring satellite cell service to Japan. Third-quarter revenue of $42.3 million missed estimates, but the full-year forecast held. AST plans to build its own rocket, Backlift, with Firefly engines. The stock slipped 1.3% after hours to $36.43. AST SpaceMobile (ASTS) stock closed at $36.89 on Monday, up $4.56 or 14.1%. The S&P 500 rose 2.3% and the Nasdaq Composite gained 2.7% the same day. AST SpaceMobile, Inc., ASTS ASTS traded between $32.26 and $38.20 during the session. Its market cap now sits near $11.06 billion. The spark was a new deal in Japan. AST and Rakuten, partners since 2020, agreed to form a joint venture called Rakuten AST.

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