AST SpaceMobile Inc. (NASDAQ:ASTS) is one of the Double-Digit Winners: 10 Stocks Crushing The Market.
AST SpaceMobile rallied by 19.7 percent week-on-week, from $38.37 to $45.94, after bagging a deal with Vodafone Idea to expand mobile connectivity across India’s unconnected regions.
In a statement, AST SpaceMobile and Vodafone Idea are set to develop a SpaceMobile Satellite System that will expand the latter’s telecom services, such as voice, video, data streaming, and internet access.
The partnership will also cover the development and management of the satellite constellation, while Vodafone Idea will oversee terrestrial network integration, operating spectrum, and market access.
An aerial view of a communications satellite in orbit, beaming its signal down to Earth.
“[Vodafone Idea] has always been committed to leveraging technology to connect every Indian and we see satellite communication as a complement to terrestrial connectivity. As satellite-based mobile access becomes a reality in India, we are looking forward to ushering in a new era of seamless and resilient connectivity,” said Avneesh Khosl,a Chief Marketing Officer.
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Disclosure: None. This article is originally published at Insider Monkey.
