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MarketBeat
MarketBeat
Jordan Chussler

Pentagon Deal Sends AST SpaceMobile Soaring—Is This the Next Leg Up?

Shares of AST SpaceMobile (NASDAQ: ASTS) jumped 15% on Friday as the company announced that it was awarded a government contract for the Missile Defense Agency Scalable Homeland Innovative Enterprise Layered Defense (SHIELD) indefinite-delivery/indefinite-quantity (IDIQ) contract. 

The jump in price comes after communication services stock slipped earlier in the week following the SpaceX rival being downgraded from a Buy rating to a Neutral rating by B. Riley Securities on Jan. 13. 

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