Stock Market Today, June 29: AST SpaceMobile Rises on BlueBird Satellite Momentum
AST SpaceMobile (NASDAQ:ASTS), a space-based cellular broadband network for standard mobile phones, closed at $86.77, up 21.44%. The stock rose as the company confirmed its newest BlueBird satellites were alive and well in orbit, and investors are watching the August launch window and Q2 earnings timing.
The company’s trading volume reached 32.1M shares, which is about 44% above its three-month average of 22.4M shares.
How the markets moved today
The S&P 500 (SNPINDEX:^GSPC) closed at 7,440, up 1.18%, while the Nasdaq Composite (NASDAQINDEX:^IXIC) finished at 25,820, up 2.07%. Among satellite telecommunications and non-terrestrial direct-to-device cellular connectivity peers, Iridium Communications (NASDAQ:IRDM) closed at $54.59, up 25.44%, and SATS (NASDAQ:SATS) closed at $103.92, up 3.64%.
What this means for investors
AST SpaceMobile shares rallied after the company confirmed that BlueBirds 8-10 are operating in orbit, providing investors with a cleaner execution milestone following the earlier BlueBird 7 setback. The update matters because AST’s stock is tied less to current revenue and more to whether the company can keep building its space-based cellular network on schedule.
The next test is the targeted first-half August launch of BlueBirds 11-13. AST’s Q1 results showed modest revenue but kept the company’s 2026 outlook intact, leaving investors focused on whether satellite deployment can move the company closer to service activation a larger revenue ramp. The next earnings update will give a clearer read on cash use, launch timing, and how quickly network progress is turning into commercial milestones.
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Eric Trie has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends AST SpaceMobile. The Motley Fool has a disclosure policy.
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