AST SpaceMobile (ASTS) Extends Rally to 5th Day on New Billion-Dollar Investment Report

We recently published Market in Pain? Not For These 10 Celebrating Stocks. AST SpaceMobile, Inc. (NASDAQ:ASTS) is one of the top performers on Tuesday.

AST SpaceMobile extended its winning streak to a 5th consecutive day on Tuesday, jumping 12.18 percent to close at $54.80 apiece as investor sentiment was boosted by reports that a Mexican billionaire was looking to boost his stake in the company for $22 billion.

On Tuesday, reports said that Mexican billionaire Carlos Slim, who owns América Móvil, is infusing more cash into AST SpaceMobile, Inc. (NASDAQ:ASTS).

Slim already owns a significant stake in the company, while his daughter sits on the board of directors.

AST SpaceMobile, Inc. (NASDAQ:ASTS) has yet to confirm or deny the reports.

If proven, Slim’s billion-dollar investment would largely support the company’s expansion plans, including its planned launches into orbit of 45 to 60 satellites by next year.

Additionally, AST SpaceMobile, Inc. (NASDAQ:ASTS) earlier said that it would deploy nationwide intermittent service in the US by the end of the year, followed by the UK, Japan, and Canada in the first quarter next year. This, alone, is expected to rake in revenues between $50 million and $75 million from government and commercial customers in the second half of the year.

While we acknowledge the potential of ASTS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.