2024 is a banner year for AST SpaceMobile (ASTS). The stock traded below $1.97 in the last year. Everything changed in June when the firm signed contracts with Verizon Communications (VZ), AT&T (T), Vodaphone (VOD), and Google (GOOG).
In the last quarter, ASTS said that it expects the first five commercial BlueBird satellites to launch early next month. The firm secured a $100 million commitment from its customers. The cash flow spooked bears, who hold a 20.24% short float against ASTS stock.
Most importantly, ASTS does not expect to dilute shareholders. It will fund its capital expenditures through prepayments from its mobile network operator partners.
Lumentum (LITE) is another winner. Shares are up by 20.6% in the week. The firm earned $0.06 a share, despite revenue falling by 16.9% Y/Y to $308.3 million.
Adyen (ADYEY) is a stock to watch. The Dutch payments company reported net revenue of $1.0 billion in the first half of the year. Its North American market grew by the fastest, up by 30% Y/Y.
Rocket Lab (RKLB) is on a sustained uptrend. The stock continued to rise after posting revenue of $106 million in the second quarter. It ended the quarter with $1.07 billion in total backlog.
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