SpaceX potential? AST SpaceMobile shares rose by 6,000% thanks to investors from Reddit

AST SpaceMobile: From a “meme stock” to a real player in the satellite communications market

1. How the “meme stock” AST emerged
- Kook – an anonymous trader with the pseudonym “the Kook,” who posted photos of California surfer Cardiff Kook on X when the price was falling.

- The SpaceMob community (built from Discord chats) reacted to these posts: discussions → buy orders → price rise. This created a “Kook bottom ritual.”

- Unlike early meme stocks, where value was almost entirely psychological, AST has real technology and contracts.

2. Technology and business
- Satellites with giant waffle‑shaped antennas (the “Waffle” project) that transmit signals directly to mobile phones.

- Agreements have already been signed with major operators: AT&T, Verizon, and Vodafone.

- Alphabet is a major shareholder, confirming the company’s strategic importance.

3. Financial metrics
- Market cap > market value of almost one‑third of S&P 500 companies (Tyson Foods, Charter Communications, Ralph Lauren).

- In early May the price fell 48 % from its January peak, but year‑over‑year it rose about 160 %.

- Analyst Matt Maley believes further decline could be up to 20 %.

4. Competition
- SpaceX – thousands of Starlink satellites already launched.

- Amazon – acquired Globalstar to enter the same niche.

- AST plans to launch another 45 satellites by year‑end and begin paid commercial operations, although its first launch on a Blue Origin rocket in April ended unsuccessfully.

5. Company history
- Founded by Venezuelan engineer Abel Avellan (previously sold another satellite company for $550 million).

- Went public via SPAC in 2021.

- The sharp rise in shares began in May 2024 after signing contracts with AT&T and, two weeks later, with Verizon. This caused the price to increase more than ninefold over two years.

6. SpaceMob community
- Four participants in Discord chats: Swedish farmer CatSE, Wall Street veteran Anpanman, Kook, and engineer‑programmer Steve Larrison.

- They actively analyzed AST’s technology, calling it a “new Google or Nvidia.”

- One investor, oilman Tanner Ottaway, invested almost all his family savings in shares; according to him, their stake is now worth about $8 million. He does not plan to sell until the price reaches $250 per share.

Conclusion:

AST SpaceMobile has transformed from a meme stock into a real player in the satellite communications market thanks to proven technology and major contracts. Despite price volatility, the company shows sustainable revenue growth and strong backing from large investors, including Alphabet. Competition with SpaceX and Amazon remains significant, but plans for new satellite launches could strengthen AST’s position in the coming years.