Half a year has skyrocketed by 130%! SpaceX's small competitor AST SpaceMobile (ASTS.US) is currently conducting satellite launches.

AST ASTASTSi applied for a financing mechanism, but never took action to utilize it. However, this move has always been the calling card of meme stocks such as GameStop Corp. Class A (GME.US) and AMC Theatres (AMC.US).The company stated in a statement, "We have a balanced financing strategy, including prepayments from business agreements with partners and opportunities to enter different capital markets." Meanwhile, AST CEO Abel Avellan stated in last month's earnings conference call that AST is focused on building the next batch of 17 satellites. The company anticipates that ultimately, 45 to 60 satellites will be needed to provide continuous service to the continental United States. Hennessy Funds still held a position in AST as of June 30th, with fund portfolio manager Brian Macauley stating: "Satellites are a very important concept to validate. But if they encounter some challenges, the company still has funds to improve and launch more Bluebird satellites. It's an iterative process, and they will have many shots at the target to ensure accuracy."