The rally in shares of AST SpaceMobile started in mid-May when the company reported financial results for the first quarter and signed a deal with AT&T.
Under the transaction framework agreement, Meridiam will launch a tender offer for all outstanding ordinary shares of Allego that are not owned by Meridiam or its affiliates.
Satellite company, AST SpaceMobile (NASDAQ: ASTS), filed for resale of 10.45 million shares. Its stock may be up due to Apple's iOS 18 update with satellite messaging. Verizon and AT&T will collaborate with AST in 2024. AST stock has gained 53% in the past year and can be accessed through iShares Russell 2000 ETF and iShares Russell 2000 Growth ETF.