AST SpaceMobile stock gains after Meta executive visit

AST SpaceMobile stock gains after Meta executive visit.

Investing.com -- AST SpaceMobile (NASDAQ: ASTS) shares rose 3% after Meta executive Vinod Samarawickrama posted about a recent visit to the satellite communications company, expressing enthusiasm for its space-based connectivity approach.

Samarawickrama, writing on social media, highlighted AST SpaceMobile's strategy of deploying large, high-power phased array satellites designed to connect directly to standard smartphones, rather than using thousands of smaller satellites. He noted the company's plan to deploy 45 to 60 satellites by 2026.

The Meta executive commented on WhatsApp's potential role as a platform for innovation and expansion in many markets, suggesting possible collaboration between the companies. He praised AST SpaceMobile's technical execution and direct-to-device performance already demonstrated in field tests.

AST SpaceMobile Vice President Luiz Abud responded in the comments, stating it was a pleasure to host Samarawickrama and the Meta team and expressing anticipation for future collaboration.

The visit included members from both companies, with Samarawickrama acknowledging AST SpaceMobile CEO Abel Avellan's leadership and the company's differentiated approach in the space connectivity sector.

AST SpaceMobile is developing a satellite network to provide mobile broadband services directly to standard mobile phones, eliminating the need for specialized equipment. The company has been working to expand its satellite constellation and establish partnerships with mobile network operators globally.

You May Also Be Interested In

• Trump on Iran: we're trying to work out a deal that's fair
• SPS Commerce (SPSC) 400 contracts of July 60 calls trade
• Zuckerberg Directed Meta To Create Prediction Markets App - NYT