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AST SpaceMobile Stock Defies Market Downturn with 9% Weekly Gain
AST SpaceMobile Stock Defies Market Downturn with 9% Weekly Gain
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BTCCSquare news:
AST SpaceMobile shares surged 9% this week, bucking the broader market's 0.3% decline. The rally came amid anticipation of the company's acquisition of EllioSat from CCUR Holdings—a deal confirmed Friday via SEC filing. AST paid $26 million in stock for the satellite technology asset.
The stock now trades at 222 times forward sales, reflecting extreme growth expectations. Year-to-date gains stand at 133% as investors bet on AST's space-based cellular network ambitions. Market volatility elsewhere failed to dampen enthusiasm for this speculative play.
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