Why AST SpaceMobile Stock Crashed 11.5% Today

Why AST SpaceMobile Stock Crashed 11.5% Today
·1 min read

Shares of recent initial public offering (IPO) and space company AST SpaceMobile (NASDAQ: ASTS) stock slumped on Monday, and are down 11.5% as of 12:20 p.m. ET. The company announced today that its launch of a prototype BlueWalker 3 communications satellite, designed to prove the concept of enabling ordinary cellphones to communicate directly with one another via satellite, has been delayed. To put this announcement in context, in August AST said that BlueWalker 3 was expected to launch aboard a SpaceX rocket in March 2022.

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