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AST SpaceMobile, Inc. witnessed a surge in retail interest in the last 24 hours, building on the company’s announcement to offer $1 billion aggregate principal amount of convertible senior notes due 2036 and the successful unfolding of its BlueBird 6 satellite.
Retail message volumes on Stocktwits on ASTS peaked at 250% in the last 24 hours, with traders sounding optimistic about the stock gaining even after the note offering sent the shares down nearly 9% in premarket trading.
A bullish user on Stocktwits said they planned to buy a large number of shares in the mornings and “love the ASTS offering.”
On Tuesday, the company announced the unfolding of BlueBird 6, which features the largest commercial communications array antenna ever deployed in Low Earth Orbit. In December, the company also announced that it had completed the manufacturing of BlueBird 7 and it was en route to Cape Canaveral, Florida, ahead of its own launch preparations.
AST SpaceMobile on Wednesday said that the company intends to use the net proceeds from the offering for general corporate purposes, including accelerating the deployment of its controlled spectrum bands on a global basis, monetizing the capabilities of its proprietary technology to capture the evolving commercial opportunities related to artificial intelligence, and enhancing investment in government space opportunities in the U.S.
This is to scale manufacturing and further deployment of its products at a time when it has been awarded a contract for the Missile Defense Agency's Scalable Homeland Innovative Enterprise Layered Defense (SHIELD) program.
The SHIELD contract, also known as the “Golden Dome” project, is a push by the Trump Administration to create a shield that will identify incoming projectiles, calculate trajectory, and deploy interceptor missiles to destroy them mid-flight.
Retail sentiment on AST SpaceMobile was in the ‘bearish’ territory, compared to ‘neutral’ a week ago, with message volumes at ‘low’ levels, according to data from Stocktwits.
However, chatter was picking up on the platform with one bullish user noting that the company was still in the infancy stage and people think a billion “in financing is bearish.”
Another bullish user noted that the stock had rebounded immediately after the last offering.
Shares of AST SpaceMobile have jumped over 241% in the last 12 months.
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