7 Unstoppable Growth Stocks To Buy Now

2. AST SpaceMobile, Inc. (NASDAQ:ASTS)

Year-to-date Share Price Gain as of September 11: 438.35%

Number of Hedge Fund Holders: 15

AST SpaceMobile, Inc. (NASDAQ:ASTS) is another unstoppable growth stock to buy now. The stock has gained more than 438.35% on a year-to-date basis. It was held by 15 hedge funds in Q2 2024, with total stakes worth $67.38 million. Citadel Investment Group is the top shareholder of the company, with a position worth $17.9 million.

The company is engaged in providing a unique internet network that will provide service directly from space. To make this happen it aims to build a constellation of 168 satellites, which will cost around $3 billion.

AST SpaceMobile, Inc. (NASDAQ:ASTS) is leveraging partnerships with other major tech companies to improve its reach. It has entered into strategic partnerships with Verizon, Google, and AT&T that will enable the company to improve its reach. The partnership will add 850 MHz of premium spectrum to its portfolio giving it direct access to 70% of US mobile internet users.

The fortune of the company is dependent on its ability to raise capital to fund its goal. Management has already announced the completion of the first 5 commercial satellites, which are set to launch in September, and another 17 satellites are under construction. It has already received $71 million from a warrant redemption and expects another $84 million. This topped with the existing $285 million in cash reserves ensures a smooth year with progress towards its goal.

Investors have shown confidence in management’s efforts and the stock has gained more than 438 on a year-to-date basis.