Jim Cramer on AST SpaceMobile: "Maybe They Have Something, But it Surely isn't Self-Evident"

AST SpaceMobile, Inc. (NASDAQ:ASTS) is one of the stocks Jim Cramer recently commented on. Cramer mentioned the company during the episode and remarked:

“Then I got a question about AST SpaceMobile. That’s a satellite broadband network for smartphones with a stock that’s up 158% for the year. This is a company that’s been losing money hand over fist, almost no revenue whatsoever. Maybe they have something, but it surely isn’t self-evident.”

AST SpaceMobile, Inc. (NASDAQ:ASTS) is developing the BlueBird satellite constellation to deliver space-based cellular broadband directly to smartphones. The company’s SpaceMobile service targets end-users beyond terrestrial network coverage for both commercial and government applications. During the September 22 episode, Cramer called it a “perfect spec,” as he said:

“Well… you heard the word space. Now I know this is, people are going to say, what the heck has Cramer spoken? Well, actually, I’ve been right about every single one of these, as you know. But what really does matter to me is, is that this is your spec. You’re allowed to have a spec. I say it… all you gotta do is have one spec. You’re allowed it. You can’t have two unless you’re very, very young. And that ASTS is a perfect spec.”

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