Wall Street Bet's Favorite Space Stock Just Clinched FCC Approval (21.32% Short Interest!)

Well not everything is down in the dumps today, because as one user on Wall Street Bet’s made it clear “A market crash can’t hurt us in space”. The reason? AST SpaceMobile (WSB’s other favorite meme stonk) has just been given the green light to launch the first commercial satellite by the FCC.  

(Source: Market Watch) 

This has every Tom, Dick, and Harry loading up on this stock as no other “to the moon” meme fits as perfectly as this one. 

(Source: Reddit & TipRanks) 

But other than just another hype ticket in hopes of AST becoming the next Gamestop of 2024, it’s the friggin FCC (the Federal Communications Commission for all you anti-establishment peeps)… so what’s the big deal? 

Well for you non-space enthusiasts, this new AST commercial satellite will be the first and only cellular broadband in the world, and right now, this news has Vikram Raval, their Head of Global Regulatory Affairs (aka "The Guy Who Schmoozes With Government Types") practically doing cartwheels. 

(Source: Giphy) 

Why? Well, because this initial license from the FCC allows AST SpaceMobile to operate its first five BlueBird satellites, which are set to provide cellular coverage directly to your smartphone from space. And according to Raval, this launch will quite simply,  "Pave the way for commercial space-based broadband services in the United States." In other words, "F yeah, m’erica!”. 

(Source: Giphy) 

Now of course, while this is a massive win for the space stonk, AST isn’t doing this alone. According to reports, they are leveraging their pre-existing partnerships wil AT&T, Verizon, and Vodafone to not only provide funding, but also access millions of existing customers looking for faster service. Because, you know, in space everything is faster. 

(Source: Space News) 

What’s more, is that in addition to these heavy hitting partnerships, AST currently holds agreements with over 45 mobile network operators worldwide, covering a whopping 2.8 billion subscribers. This is quite phenomenal because as Scott Wisniewski, the President of AST SpaceMobile, stated: “This regulatory milestone is a significant step to targeting 100% nationwide coverage from space.” (Shots fired, T-Mobile…) 

(Source: PC Mag) 

As most would expect, the news of this approval gave $ASTS a nice +0.43% bump in price action to add to its impressive 572.51% six-month returns. But that’s not even the best part. Sure, $ASTS has good news behind it, but the current 21.32% short interest on the stock just adds an extra shot of juice that could have a major impact on price throughout the week. 

So it’s obvious as to why Wall Street Bets is all over this more than bees on honey. Plus, if all goes according to plan as the first five BlueBird satellites launch in September - analysts at SeekingAlpha are predicting that AST SpaceMobile’s shares could triple in value due to the momentum. 

(Source: Stock Invest) 

Now keep in mind, that’s analyst talk, and when it comes to analysts predictions, they are about as smoke and mirrors as Kamala Harris’ heritage. But even still, with solid partnerships and regulatory approvals in hand, AST SpaceMobile is clearly positioning itself as a frontrunner in the space-based broadband race. 

So in the end, keep an eyes on AST SpaceMobile. If it can come out of today’s market meltdown unscathed, then just think how far this stock can run when things get better. 

(Source: Giphy) 

Disclaimer: Please do your own due diligence to see if this stock is worth your risk appetite or not. Like I always say, I have no idea what I’m talking about. My financial think so’s are about as sharp as a butter knife, so take that into consideration. 

Stocks.News holds positions in Verizon, AT&T, and T-Mobile as mentioned in the article.