We use cookies and similar technologies to improve your experience, serve personalized ads, and analyze traffic. You can manage your preferences or accept/reject all.
Cookie Preferences
EssentialRequired for the site to function. Always active.
AnalyticsHelp us understand how visitors interact with the site.
AdvertisingUsed to deliver personalized ads.
FunctionalEnable enhanced functionality and personalization.
Markets · Investing · Business
Finance
Why AST SpaceMobile Sank Today
AST sank as SpaceX accelerated its plans to become a comprehensive satellite-based mobile wireless competitor.
Shares of satellite-based wireless company AST SpaceMobile(NASDAQ: ASTS) sank 14.6% on Friday as of 1:36 p.m.
AST fell along with other telecom stocks today, after Space Exploration Technologies(NASDAQ: SPCX) announced after market close yesterday that it had agreed to purchase up to 14 megahertz in the 800 MHz band.
Details
The move indicated SpaceX is very serious about establishing a comprehensive wireless mobile platform, not just a service for remote areas where terrestrial networks struggle to reach. Moreover, SpaceX may have hurt ASTS specifically by outbidding the company on this particular band of spectrum, which industry news outlets reported AST had been seeking.
Capital Daily covers markets, crypto and commodities for Asia & the Middle East — tier-1 desk research, AI-driven analysis, institutional-grade data. Tip our newsroom: [email protected]
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
What moved overnight · what to watch today · pre-positioning notes from our desk. Delivered to your inbox at 6:30 AM Dubai.
No spam. Unsubscribe in one click. We never sell your email.
We use cookies and similar technologies to improve your experience, serve personalized ads, and analyze traffic. You can manage your preferences or accept/reject all.
Cookie Preferences
EssentialRequired for the site to function. Always active.
AnalyticsHelp us understand how visitors interact with the site.
AdvertisingUsed to deliver personalized ads.
FunctionalEnable enhanced functionality and personalization.
