Why AST SpaceMobile Stock Just Crashed
AST SpaceMobile is preparing for a battle.
Overview
AST SpaceMobile (NASDAQ: ASTS) has grand ambitions to offer broadband directly to smartphones anywhere on Earth. Building and launching the satellite array that will provide that technology costs money.
AST announced yesterday that it was raising additional funds to support its efforts. The stock is dropping today on that news, down 15.5% as of 11:07 a.m. ET. But investors have more to worry about than just the required capital.
Details
Source
Originally published at www.fool.com.
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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.