AST SpaceMobile Stock Gets a New Catalyst. Wall Street Sees 93% Upside.

AST SpaceMobile (ASTS) is back in focus after four of Europe’s largest mobile operators agreed to explore a joint bid for satellite spectrum. On Monday, shares of ASTS increased nearly 3%, as investors assess whether the plan would provide a new avenue for the direct-to-device technology that it involves.

Deutsche Telekom (DTEGY), Orange (ORANY), Telefónica (TELFY), and Vodafone (VOD) signed a letter of intent to form a joint bid for Mobile Satellite Services (MSS) spectrum. The vision is for improved coverage in unserved areas and more resilient networks. While the announcement does not name AST SpaceMobile anywhere, and there's no guarantee it will have a direct role or gain any new revenue streams, AST's previous partnerships with signers of the letter suggest it stands to benefit greatly from their expansion plans.