ASTS Stock Drops 15% on SpaceX Threat: This ETF Holds Both Sides of the Satellite War
ASTS stock plunges 15% as SpaceX expands Starlink. Could gains in SpaceX shares offset ASTS-driven losses in the Procure Space ETF?
Stocks · News reference
AST SpaceMobile shares are trading lower after SpaceX announced that it will acquire an 800 MHz low-band wireless spectrum. The deal implies a threat to the company's model, as it plans to launch its Block 2 satellites with 800 MHz capabilities.
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Why Is AST SpaceMobile Stock Falling on Friday?
AST SpaceMobile Inc. (NASDAQ: ASTS) stock trades lower on Friday after SpaceX discloses an 800 MHz spectrum acquisition deal, heightening competition in satellite direct-to-device connectivity.