An Indian rocket launched the record-breaking BlueBird 6 smartphone satellite to orbit on Tuesday night (Dec. 23). BlueBird 6, built by Texas company AST SpaceMobile, lifted off atop an LVM3 rocket from India's Satish Dhawan Space Centre Tuesday at 10:25 p.m. EST (0325 GMT and 8:55 a.m. India Standard Time on Dec. 24).

AST SpaceMobile (ASTS) has been on a strong run recently, with the stock up sharply over the past year as investors revisit satellite to smartphone connectivity and start rethinking what long term growth could look like.

On the flip side, AST SpaceMobile has secured several major deals, providing it with visibility into future cash flow. Not only that, but smart investors see the vast potential in the space economy. According to McKinsey and Company, the space economy will reach $1.8 trillion by 2035.

Vodafone Idea's CEO Abhijit Kishore announces the launch of BlueBird 6, a satellite broadband partnership with AST SpaceMobile, aiming to connect unconnected regions of India and enable 4G and 5G services directly on smartphones.

AST SpaceMobile, which has inked agreements with more than 50 mobile network operators, is set to launch its next-generation satellites on Tuesday.

Markets opened mixed this morning as Canadian equities advanced while global benchmarks showed uneven performance. The TSX is up 0.77%, supported by strength in resources and financials, while the Venture Index is also higher by 0.