AST Spacemobile (ASTS) jumps 10.6% with Vodafone trading

Recently I published a list These 10 shares boast double digit profits in a boring market. AST Spacemobile Inc. (NASDAQ:ASTS) is one of the best-performing stocks on Thursday.

AST Spacemobile closed at $44.35 each on Wednesday, up 10.6%, as investors expanded mobile connectivity across India’s unconnected regions in support of their partnership with Vodafone Idea (VI).

In a statement, AST Spacemobile and VI will join forces with the establishment of Spacemobile satellite systems that extend the latter communication services, including voice, video, data streaming and Internet access.

Under the agreement, AST Spacemobile Inc. (NASDAQ:ASTS) develops and manages satellite constellations, while VI oversees the integration, operational spectrum and market access of terrestrial networks.

An aerial view of a communications satellite in orbit illuminates its signal to the Earth.

“VI is always committed to leveraging technology that connects all Indians, and we see satellite communication as a complement to ground connectivity. When satellite-based mobile access becomes a reality in India, we look forward to moving ahead with a new era of seamless, resilient connectivity,” said Avneesh Khosla’s Chief Marketing Officer.

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Read next: Best AI stocks to buy now and According to the billionaire, 30 best stocks to buy now.

Disclosure: None. This article was originally published Insider Monkey.