Key Highlights

● AST SpaceMobile soared, closing at $36.89, up $4.56 on November 9.

● About 27.4 million shares changed hands, roughly double the average.

● It was among the ten most-mentioned stocks on Reddit's r/wallstreetbets.

● The Rakuten venture is eligible for up to about $1 billion in Japanese funding.

A satellite stock takes off

AST SpaceMobile (NASDAQ:ASTS) was one of the market's hottest tickets on Monday, November 9, 2026. The satellite company soared, closing at $36.89, up $4.56 on the day, according to news reports. Trading was heavy: about 27.4 million shares changed hands, roughly double the stock's average Volume of 13.5 million.

The excitement reached retail traders too. AST was among the ten most-mentioned stocks on Reddit's r/wallstreetbets forum in the 24 hours to Monday evening, according to market coverage.

The Rakuten deal

The catalyst was a new Partnership in Japan. AST and Rakuten agreed to form a joint venture, Rakuten AST, which will be controlled by Rakuten and is eligible for up to about $1 billion in Japanese government funding, according to market reports. Market data described the venture as a plan to build a direct-to-device satellite network in Japan.

AST is building a network of large satellites designed to connect directly to ordinary smartphones, filling gaps where cell towers do not reach. Government-backed funding for a national network would be a meaningful vote of confidence in that approach, and a potential source of Capital without AST having to raise all the money itself.

The deal also gives AST a well-known local partner. Rakuten runs a mobile network in Japan, and a joint venture under its control could help navigate regulation, spectrum and customer relationships in a market where AST would otherwise be an outsider.

Results after the bell

After the close, AST reported third-quarter results. Revenue came in at $42.3 million, nearly tripling from a year earlier but falling short of estimates, according to market data. The company posted a loss of $0.44 per share.

AST kept its full-year revenue guidance at $150 million to $200 million and said it expects to have 45 BlueBird satellites in orbit by mid-2027. The stock gave back some of its gains in after-hours trading, according to news reports.

Space stocks in orbit

AST was part of a broad rally in space names. Firefly Aerospace (NASDAQ:FLY) and Intuitive Machines (NASDAQ:LUNR) climbed after being named among eight winners of NASA "Moon Base" awards worth up to $10 billion in total, according to market coverage. AST had disclosed on November 6 that Firefly would Supply engines for its rocket. Rocket Lab (NASDAQ:RKLB) and Planet Labs (NYSE:PL) also rallied.

"We are building the Moon Base mission by mission," NASA Administrator Jared Isaacman said, according to market reports.

The overall market was strong as well. The S&P 500 jumped 173.08 points to 7,549.94, its best day since April 8, and the Russell 2000 surged 86.71 points to 2,840.81. Lower oil prices, with Brent Crude down $5.75 to $92.57 a barrel, helped lift risk appetite across growth stocks.

Results Following the Rally

The key items for AST investors are the pace of satellite launches and whether the company stays on track for 45 BlueBirds in orbit by mid-2027. More satellites mean more coverage and, eventually, more revenue from carrier partners.

The Rakuten venture will also be closely watched, including the timing and size of any Japanese government funding and how the costs and returns are shared. Tuesday's regular session will show how investors weigh the revenue miss against the day's partnership news. On the macro side, October's Consumer Price Index arrives Tuesday, the last Inflation report before the Federal Reserve's December 8-9 meeting.