11 Reddit Stocks with Biggest Upside Potential

8. AST SpaceMobile Inc. (NASDAQ:ASTS)

Average Upside Potential as of November 11: 70.84%

AST SpaceMobile Inc. (NASDAQ:ASTS) and its subsidiaries develop and provide access to a space-based cellular broadband network for smartphones in the US. Its SpaceMobile service provides cellular broadband services to end-users without terrestrial cellular coverage.

This company made significant strides in the third quarter of 2024. Its first five BlueBird satellites successfully unfolded and entered initial operations. These are a series of satellites designed to provide global cellular broadband coverage directly to smartphones. This achievement marks a crucial step towards providing global cellular broadband coverage directly to smartphones.

To expand its network and improve its service, the company booked slots on rockets to launch up to 60 more advanced satellites called Block 2 BlueBird satellites. These satellites are expected to launch in 2025 and 2026. Additionally, it made a significant technological advancement by successfully testing a new chip called the AST5000 ASIC chip. This chip will help the satellites transmit data faster and more efficiently.

The third quarter of 2024 was a successful one for AST SpaceMobile Inc. (NASDAQ:ASTS). It generated $1.10 million in revenue, which was $100,000 higher than Street estimates. The focus of the quarter remains on the BlueBird satellites that feature the largest commercial communications arrays ever deployed in low Earth orbit, aiming to deliver voice, data, and video services across select global markets. AST SpaceMobile Inc.’s (NASDAQ:ASTS) financial strength will enable the company to continue its ambitious plans to revolutionize global connectivity.