NEW YORK — AST SpaceMobile (ASTS) capped a strong week on Friday, May 24, 2026, with shares climbing 10.01% to close at $105.86. The stock ended the week up approximately 26.5% from its close on May 15, outperforming major indices as the broader space sector caught a tailwind from renewed enthusiasm around a potential SpaceX initial public offering.
U.S. equity markets will be closed on Monday, May 25, in observance of Memorial Day, with trading set to resume on Tuesday, May 26, according to Nasdaq. The holiday pause comes at a time when space-focused stocks have been drawing significant investor attention.
SpaceX IPO Speculation Fuels Rally
The recent surge in space stocks has been largely attributed to growing anticipation of a SpaceX IPO. According to reports from Reuters, SpaceX is reportedly looking to raise more than $75 billion in its IPO at a valuation of approximately $1.75 trillion. Such a listing would provide a new benchmark for companies operating in satellite communications, launch services, and space infrastructure.
Space-focused exchange-traded funds (ETFs) have attracted $1.3 billion in fresh inflows over the past month, pushing total assets under management in the category to $3.3 billion, Reuters reported Friday. Bryan Armour, an ETF analyst at Morningstar, characterized the inflows as typical of investor enthusiasm for “new and shiny” products entering the market.
Andrew Chanin, CEO of Procure, told Reuters that investors are increasingly warming to the idea that “space may not be too far out into the future to be investable.” The sentiment has helped lift shares of pure-play space companies, including Rocket Lab and Virgin Galactic, alongside AST SpaceMobile.
AST SpaceMobile’s Launch Timeline and Business Model
AST SpaceMobile is advancing its satellite deployment schedule. The company has announced plans for a mid-June launch of three BlueBird satellites—BlueBird 8, 9, and 10—aboard a Falcon 9 rocket. Additionally, BlueBird satellites 11 through 33 are in advanced stages of production and assembly.
CEO Abel Avellan stated that the company is “accelerating manufacturing, regulatory progress, commercial partnerships, and government programs” with the goal of having approximately 45 BlueBird satellites in orbit by 2026. The company’s technology aims to enable standard, unmodified smartphones to connect directly to satellites for broadband-speed connectivity, which it plans to sell to cellular carriers on a wholesale basis.
Financial Performance and Risks
AST SpaceMobile remains in an early stage of its financial journey. The company reported first-quarter 2026 revenue of $14.7 million and maintained its full-year 2026 revenue guidance of $150 million to $200 million. As of March 31, 2026, AST held approximately $3.5 billion in cash, cash equivalents, and restricted cash.
However, the company also reported a net loss attributable to common stockholders of $191.0 million for the first quarter. In a separate disclosure, the company noted that its Block 2 BB7 satellite entered a lower-than-planned orbit and has been de-orbited, resulting in an expected carrying value loss of $155 million to $160 million before any insurance recovery.
Market risks also loom. Todd Sohn, ETF strategist at Strategas, told Reuters that he becomes cautious when “everybody is thinking the same way,” noting that the limited number of pure-play space stocks leaves little room for fund differentiation. The concentrated nature of the space trade could lead to heightened volatility if investor sentiment shifts.
Outlook
When trading resumes on Tuesday, market participants will be watching to see whether the SpaceX-driven momentum can sustain itself. For AST SpaceMobile, the focus will remain on execution—successful satellite launches, commercial partnerships, and revenue growth—rather than simply riding the wave of sector-wide enthusiasm.
