AST SpaceMobile, Inc. (NASDAQ:ASTS) shares are moving lower on heavy volume Thursday. The company announced the successful launch of its first five commercial satellites today.

The Details:

AST SpaceMobile launched the Bluebird satellites at 4:52 a.m. ET from Cape Canaveral, Florida. The large arrays of antennas are designed to reach standard smartphones directly at cellular broadband speeds for voice, data and video and other non-communications government applications. 

After launch, the BlueBird satellites are planned to offer non-continuous cellular broadband service across the United States and in select markets globally. The Bluebirds will target approximately 100% nationwide coverage from space with over 5,600 coverage cells in the United States.

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“This is an exciting next step to a future where our customers will only be hard to reach if they choose to be – giving them the power to go anywhere and the possibility to do anything while staying connected with just an everyday cell phone,” said Jeff McElfresh, COO of AT&T. 

Last week, AST SpaceMobile stock fell after the company filed a prospectus for the offer and sale of up to $400 million Class A common stock. According to data from Benzinga Pro, AST SpaceMobile shares are up more than 25% over the past month and trading above the stock’s 50-day moving average of $21.65.  

How To Buy ASTS Stock:

By now you're likely curious about how to participate in the market for AST SpaceMobile – be it to purchase shares, or even attempt to bet against the company.

In the the case of AST SpaceMobile, which is trading at $25.17 as of publishing time, $100 would buy you 3.97 shares of stock.

ASTS Price Action: According to Benzinga Pro, AST SpaceMobile shares are down 9.25% at $25.33 at the time of publication Thursday.

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Image: Courtesy of AST SpaceMobile, Inc.