AST SpaceMobile, Inc. (ASTS) saw its stock soar by 5.07% during intraday trading on Thursday, as investors were increasingly optimistic about the company's prospects in the space-based broadband industry.

The surge in share price came on the heels of positive developments for AST SpaceMobile, a company aiming to provide space-based cellular broadband service coverage globally. According to reports, the company successfully launched its first five commercial satellites into space last year and secured launch-services agreements to expand its coverage to key markets, including the U.S., Europe, Japan, and the U.S. government.

With its upcoming launch campaign scheduled for 2025 and 2026 from Cape Canaveral Space Force Station, AST SpaceMobile appears poised to capitalize on the growing demand for space-based broadband connectivity. Analysts and industry experts have expressed optimism about the potential of the space business, with AST SpaceMobile emerging as a promising player in this sector.