AST SpaceMobile (NASDAQ:ASTS) shares are up on Wednesday following the Federal Communications Commission’s (FCC) approval for the company to operate its SpaceMobile non-geostationary orbit satellite system.

This news comes as the broader market is experiencing gains, with the S&P 500 up 0.8% and the Communication Services sector gaining 0.6%.

Details

The FCC has granted AST SpaceMobile authorization to deploy and operate a constellation of up to 248 satellites. It will enable direct-to-device cellular broadband coverage using low-band spectrum.

The system will deliver direct-to-smartphone connectivity using 700 MHz and 800 MHz spectrum, in partnership with Verizon, AT&T, and FirstNet.

This approval supports the company’s efforts to enhance network resilience and provide critical communications services across the United States, further validating its innovative technology.

BlueBird 7 Satellite Launch Trouble

Recently, the company said its BlueBird 7 satellite, launched aboard the New Glenn launch vehicle, was placed into a lower-than-planned orbit during the New Glenn 3 mission.

Although the satellite separated and powered on, the altitude is too low for sustained operations, and it will be de-orbited. The company expects to recover the satellite’s cost through insurance.

Technical Analysis

The broader ...