AST SpaceMobile’s stock surged on Tuesday, gaining over 15%, after the company announced that its first commercial satellite is set to launch on March 16. The launch, which will take place from the Vandenberg Space Force Base in California, marks a significant milestone for the company as it works to deploy a constellation of satellites to provide global mobile connectivity. The stock’s rally comes after a steep decline in late February following disappointing fourth-quarter earnings. AST SpaceMobile’s shares have struggled to regain momentum since then, but Tuesday’s news provided a much-needed boost.
