AST SpaceMobile Shares Climb on FCC Approval

Published: 2025-01-31 07:10:19 ET ASTS

By Dean Seal

AST SpaceMobile shares rose after the company said regulators have authorized it to test service in the U.S. via partnerships with AT&T and Verizon Communications.

The stock was up 6.9% at $19.47 in premarket trading. Shares were trading at around $2.87 this time a year ago.

The Midland, Texas company, which is developing a space-based cellular network, said the Federal Communications Commission granted it a Special Temporary Authority, allowing its five commercial BlueBird satellites to provide voice, data and video capabilities on AT&T and Verizon's premium low-band wireless spectrum without special software or devices.

"We are now accelerating our path to commercial activity, starting with testing service with off-the-shelf cellular handsets on AT&T and Verizon networks," Chief Commercial Officer Chris Ivory said.

Write to Dean Seal at [email protected]

(END) Dow Jones Newswires

01-31-25 0709ET