AST SpaceMobile ( (ASTS) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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AST SpaceMobile’s stock took a hit after announcing an Equity Distribution Agreement to raise up to $800 million, causing a 7% drop in its price. The situation was further exacerbated by Scotiabank’s downgrade to ‘Sell,’ pointing to a valuation bubble and competitive threats from Starlink. Additionally, insider sentiment is negative with increased selling, and analysts are worried about the company’s financial and operational hurdles despite its strategic partnerships.
More about AST SpaceMobile
YTD Price Performance: 245.43%
Average Trading Volume: 11,270,801
Technical Sentiment Signal: Buy
Current Market Cap: $26.34B
For further insights into ASTS stock on TipRanks’ Stock Analysis page.
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