$ASTS: risk stock or reward stock?

ASTS is embarking on an ambitious plan to deploy its patented technology that allows direct-to-device 5G mobile service from its constellation of low-earth-orbit (“LEO”) satellites.

With a 1-year lock-up on existing investors and PIPE investors, there will be limited free float on account of the small trust size ($232MM) coupled with the statement of confidence from pre-deal and PIPE investors that rolled over in what amounted to a “public Series C” financing.

The investment set-up is favorable since a high capital intensity space venture is poorly suited for private markets, yet requires the capital available in the SPAK market – the set-up is not a ‘foist’ by private market investors onto unsuspecting retail investors but instead a legitimate capital raising exercise that harnessed the SPAK market instead of exploiting it

I think $ASTS might be one of the most asymmetric opportunities in the market right now. $ASTS went public through the SPAC route ($NPA in particular). They have no debt as a company and are fully funded through phase 1 of their plan to commercialize space-based cellular service. They have several amazing strategic partners (American Towers, Rakuten, Vodafone, etc.). Price action today (on 6/4) was likely people trying to front-run the Russell 2000 inclusion.
Any comments on this market gainer?