Stock Market Today, Oct. 9: AST SpaceMobile Slides on SpaceX Spectrum Move
On Oct. 9, 2026, satellite broadband rival SpaceX's spectrum license acquisition comes after it also recently won FCC approval for a 15,000-satellite network.
Overview
AST SpaceMobile (NASDAQ:ASTS), a satellite-based mobile broadband network for standard smartphones, closed at $50.97, down 10.48%. Pressure from SpaceX's spectrum move weighed on shares, while investors are now watching carrier partnerships and commercialization progress.
Trading volume reached 53.8 million shares, coming in about 318% above its three-month average of 12.9 million shares. AST SpaceMobile IPO'd in 2019 and has grown 422% since going public.
The S&P 500 (SNPINDEX:^GSPC) closed at 7,811, up 0.59%, while the Nasdaq Composite (NASDAQINDEX:^IXIC) finished at 27,366, up 0.64%. In satellite telecommunications / direct-to-device connectivity, Iridium Communications closed at $47.47, down 0.19%, while Space Exploration Technologies closed at $162.57, up 1.25%, framing AST SpaceMobile's slide against mixed peer trading.
Details
AST SpaceMobile stock plunged as investors fear it could be lagging further behind SpaceX in its bid to deliver satellite broadband. After announcing plans to acquire a spectrum portfolio from digital infrastructure company Grain Management, SpaceX investors see more of its broad growth and expansion goals.
Source
Originally published at www.fool.com.