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AST SpaceMobile, Inc. (ASTS) closed at $61.95 in the latest trading session, marking a -2.19% move from the prior day.
Shares of space stocks are catching a bid Tuesday as the sector rebounds from recent weakness.
AST SpaceMobile is upgraded to strong buy as the recent dip offers an attractive entry ahead of anticipated revenue growth. ASTS delayed its 45-satellite target to early 2027 due to launch constraints, funding the new timeline with $1B in convertible notes. With $3.7B in cash post-issuance, ASTS can secure reliable launch capacity, potentially accelerating its full constellation timeline to 2028–2029.
Space stocks are being battered this week, and AST SpaceMobile NASDAQ: ASTS is no exception. Shares of the Midland, Texas-based company have plummeted more than 18% since the market closed on Wednesday, July 15, and the principal culprit seems to be souring investor sentiment in that corner of the market.
AST SpaceMobile has dropped nearly 60%, but dilution was only the catalyst after weakening sentiment, execution concerns, and an unsustainably rich valuation. Nearly 60 global carriers have committed over $1.2 billion, providing access to more than 3 billion subscribers worldwide. Consensus expects revenue to grow from $170 million in 2026 to $2.84 billion by 2029, rapidly compressing valuation multiples.
Shares of space names are sliding Friday morning as a sharp one-month reversal deepens across the sector.
Shares of a SpaceX competitor are dropping on Thursday after the company said it needed to raise new funds and announced a delay with its satellite targets.
AST SpaceMobile (ASTS) shares are taking a hit this morning due to a combination of a massive new debt raise and delays in their commercial satellite launch timeline. The sell-off crashed ASTS relative strength index (RSI) further into the early 30s – indicating the stock is now approaching “oversold” territory that often triggers a relief rally.
Shares of AST SpaceMobile (NASDAQ:ASTS) are down 13% to $57.63 in early Thursday trading, extending an overnight slide after the company priced a fresh $1 billion convertible senior notes offering.
AST SpaceMobile stock has fallen 27% in the past three months and its latest debt offering isn't helping.
The trillion-dollar space economy has stopped being a science-fiction talking point.