Why AST SpaceMobile Stock Popped, Then Dropped on Friday

Shares of satellite telecommunications company AST SpaceMobile (NASDAQ: ASTS) rose 15% through 10 a.m. ET Friday morning after yet another Wall Street analyst hiked its price target. By 11 a.m., though, the stock had turned tail and plunged 8.5%.Why the pop and why the drop? TheFly.com notes Scotiabank analyst Andres Coello raised his target on AST to $28 today. That sounds like good news, and Coello insists the stock will outperform. Problem is, AST stock already costs $35 per share, so this is also sort of bad news. On Wednesday, AST confirmed plans to launch five Bluebird communications satellites in the first half of September. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool