What's Going on With AST SpaceMobile Stock?

Investors cannot get enough of space economy stocks. Upstarts such as AST SpaceMobile (NASDAQ: ASTS) are seeing soaring stock prices, with AST SpaceMobile stock going from a low of around $2 in 2024 to $40 as of this writing on Sept. 16. The company is building a constellation of large satellites that can beam high-speed internet directly to mobile devices, which could radically disrupt the telecommunications market.Excitement abounds, but a potential roadblock has just been reached for AST SpaceMobile, and its stock is now down 30% from all-time highs because of it. What is causing this drop in AST SpaceMobile shares? And should you scoop up some stock on the dip? Let's take a closer look at this satellite internet player and find out.AST SpaceMobile is launching large satellite arrays to provide internet connectivity directly to mobile devices instead of requiring a clunky terminal or large antenna. By partnering with telecommunications providers like AT&T, the company hopes to upsell customers looking for fast internet in places that land-based mobile internet can't reach. Down the line, this technology could start to replace cell tower and wired internet services entirely for customers. With a few satellites already launched, AST SpaceMobile is planning to get between 45 and 60 of its large satellites into orbit in order to start commercial services sometime in 2026.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool