What's Going On With Satellite Company AST SpaceMobile Stock Wednesday?

AST SpaceMobile, Inc‘s (NASDAQ:ASTS) leadership shakeup helped boost its stock price 5.65% to $11.61 at last check Wednesday.

Andrew Johnson will take on the additional role of Chief Financial Officer while continuing as Chief Legal Officer.

Johnson joined AST SpaceMobile in May from 3D Systems Corp (NYSE:DDD), where he served in various senior roles.

AST SpaceMobile CEO Abel Avellan expressed gratitude to Sean Wallace, the outgoing CFO, for his leadership and contributions during a critical period of R&D and strategic partnerships.

Scott Wisniewski will add the role of President to his responsibilities as Chief Strategy Officer.

Wisniewski will oversee commercialization efforts, product development, regulatory affairs, and ensure a seamless transition from strategy to execution for the AST SpaceMobile network.

Shanti Gupta, currently Chief Accounting Officer, will be promoted to Chief Operating Officer.

Price Action: AST SpaceMobile stock gained over 72% in the last 12 months. Investors can gain exposure to the stock via Vanguard Total Stock Market ETF (NYSE:VTI) and Tidal Trust II YieldMax Ultra Option Income Strategy ETF (NYSE:ULTY).

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.