Scotiabank wonders if Bezos could invest in AST SpaceMobile after Instagram post

Scotiabank notes that AST SpaceMobile (ASTS) shares rallied yesterday after Adriana Cisneros posted a picture on Instagram showing herself, Abel Avellan and Jeff Bezos together and titled it “Amazing things are happening at AST & Science + @blueorigin”. Blue Origin management visited the AST headquarters in Texas a few days ago and Cisneros was AST’s first-ever institutional investor and is currently a board member, noted the analyst, who poses the question “Could Jeff Bezos become an ASTS investor?” This is a possibility widely discussed by investors and analysts, adds the firm, which “wouldn’t be surprised if both groups are exploring a larger agreement” that could involve New Glenn’s support for BB2 launches and possible commercial/equity agreements. Scotiabank has an Outperform rating and $45.40 price target on AST SpaceMobile shares.