Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTRicardo PillaiSat, July 4, 2026 at 1:27 AM GMT+2 3 min readIs NN a good stock to buy? We came across a bullish thesis on NextNav Inc. on R. Dennis's Substack by OppCost. In this article, we will summarize the bulls' thesis on NN. NextNav Inc.'s share was trading at $17.83 as of June 30th. Copyright: dolgachov / 123RF Stock PhotoNextNav Inc. provides positioning, navigation, and timing (PNT) solutions in the United States. NN is emerging as a high-conviction regulatory-driven investment centered on the potential monetization of its valuable 900 MHz spectrum through a proposed nationwide terrestrial positioning, navigation, and timing (PNT) network designed to complement and back up GPS. The company's investment thesis hinges on a pending Federal Communications Commission (FCC) rulemaking that could unlock the commercial value of its spectrum holdings.Read More: 15 AI Stocks That Are Quietly Making Investors RichRead More: Undervalued AI Stock Poised For Massive Gains: 10000% Upside PotentialIn April 2024, NextNav petitioned the FCC to modernize the Lower 900 MHz band rules, and regulatory momentum has accelerated meaningfully during 2026. Management stated on its fourth-quarter earnings call that it expects the FCC to move toward a Notice of Proposed Rulemaking (NPRM), supported by a strong regulatory record, while the submission of a draft proposal to the Office of Management and Budget marked a critical procedural milestone before a Commission vote.The company has simultaneously strengthened its position by demonstrating successful 5G and RFID coexistence in the band, joining the Linux Foundation's Open RAN initiative, and ending the first quarter with $143 million in cash, providing sufficient liquidity while awaiting regulatory outcomes. NextNav owns a contiguous 8 MHz block of 900 MHz spectrum covering more than 90% of the U.S. population, supplemented by an additional 4 MHz acquired in 2025, creating a unique strategic asset whose value has increasingly been recognized as regulatory progress advances.The stock has already appreciated from roughly $11 to $24 over the past year as investors have responded positively to each FCC milestone, yet bullish investors believe another significant re-rating could occur if an NPRM reaches an FCC agenda during the summer. Although the redemption of outstanding public warrants will create near-term dilution, the options activity indicates investors expect the potential regulatory catalyst and resulting upside to outweigh that headwind.Previously, we covered a bullish thesis on Iridium Communications Inc. (IRDM) by Stock Picker's Corner in October 2024, which highlighted Iridium's satellite communications leadership, resilient L-band network, expanding subscriber base, and strong buyback-led shareholder returns. IRDM's stock price has appreciated by approximately 85.05% since our coverage. Oppcost shares a similar view but emphasizes on a regulatory-driven spectrum monetization catalyst in NextNav Inc. (NN), where upside is tied to FCC rulemaking rather than operating fundamentals.Terms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info