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ASTS RKLB PL Satellite stocks soar
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Satellite stocks moon on elevated call options activity

A big day for AST SpaceMobile, Planet Labs, and Rocket Lab.

Satellite stocks are the latest thematic moon shot — literally — to benefit from a wave of buying appetite.

Volumes and call activity in AST SpaceMobile are each more than double their one-month average with an hour left in the trading day.

Peers Planet Labs and Rocket Lab are enjoying elevated options activity and massive gains as well.

Separately, there is also an unconfirmed report that Mexican telecom billionaire Carlos Slim plans to boost his stake in AST SpaceMobile, which is building out a satellite-based broadband cellular network and whose board his daughter sits on.

In an interview earlier this year, Rocket Lab CEO Peter Beck told Sherwood News that, in a sense, the end game of the company’s growing space launch and satellite business is ultimately to build out a satellite-based suite of services including broadband, cellular communications, and television.

“What we’re trying to build is an end-to-end space company that does all those things,” Beck said at the time.

Read more: The CEO of the world’s biggest public pure-play space company has a plan to compete with SpaceX

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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