AST SpaceMobile Stock Rockets 102.6% in June, Slips in July

AST SpaceMobile stock reached new record highs last month due to positive market momentum, business news, and analyst coverage. The stock saw a slight pullback this month but recorded massive gains in June, outperforming major indices. Excitement around defense tech and new partnerships contributed to the rally.

Investors flocked to AST stock in June on growth prospects, with Scotiabank highlighting a potential investment from Jeff Bezos’ Blue Origin. B. Riley raised its price target on the stock, citing growing spectrum resources. A partnership with Vodafone to expand into India boosted long-term performance outlook.

Despite a modest pullback in July, AST stock remains up 264% over the past year. Roth Capital reiterated a buy rating and raised the price target, citing a positive outlook. Analysts and investors see potential for new highs amid strong competitive positioning and growth opportunities ahead.

Read more at Yahoo Finance: Why AST SpaceMobile Stock Skyrocketed 102.6% Last Month, but Has Slipped in July