With the S&P 500 trading at a multi-year high of 29 times earnings, possible interest rate hikes on the horizon, and unresolved military conflicts driving oil prices higher, it seems like it’s only a matter of time before the market crashes.
When that happens, many of the priciest growth stocks will go on sale and become compelling purchases for patient investors
One of those stocks is AST SpaceMobile (NASDAQ: ASTS), a producer of low Earth orbit (LEO) satellites that was overshadowed by SpaceX’s (NASDAQ: SPCX) historic IPO. Let’s see why AST SpaceMobile is one of the only space stocks I’d buy in the next market crash. What sets AST SpaceMobile apart from SpaceX?
AST and SpaceX’s Starlink both produce LEO satellites for internet communications. However, AST mainly helps telecom giants like AT&T and Verizon extend their broadband networks to rural areas that their terrestrial networks can’t reach. Starlink provides its own first-party satellite internet service.