On June 29, AST SpaceMobile rose 5.74% in pre-market trading, trading at $75.75/share, with turnover of $8.94 million, extending the prior session's strong 8.88% rebound.

On the news front, the rally is supported by expectations surrounding the company's upcoming joint venture with Rakuten Group to offer direct-to-mobile communications in Japan. According to reports citing Rakuten CEO Hiroshi Mikitani, the two companies will hold approximately equal shares in the venture, with Rakuten leading management. The service is planned to roll out in phases starting late this year, with nationwide coverage in fiscal 2027 and potential global expansion thereafter.

Additionally, the company announced that BlueBird satellites 11, 12, and 13 are targeted for launch aboard a Falcon 9 rocket in the first half of August, further expanding its direct-to-smartphone broadband network. The broader space sector has stabilized following a cumulative 15%+ pullback, with SpaceX's capital siphoning effect fading and sector sentiment recovering significantly.

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