AST SpaceMobile, Inc. (ASTS) shares soared 5.01% over the past 24 hours, continuing a strong rally for the satellite communications company.

The surge appears to be part of a broader rally in space-related stocks fueled by investor optimism surrounding SpaceX's activities. According to market reports, space stocks have been lifted by positive sentiment following SpaceX's filing for an initial public offering, which is expected to raise as much as $75 billion and could value the company at $2 trillion.

Additionally, the successful 12th test launch of SpaceX's Starship rocket last Friday has brought renewed attention to the space sector, with investors showing increased interest in companies positioned to benefit from the growing space economy. AST SpaceMobile, which offers space-based broadband services similar to SpaceX's Starlink, is seen as a potential beneficiary of this sector-wide enthusiasm.