Why AST SpaceMobile Stock Tumbled by Nearly 10% Today

A recommendation downgrade by an analyst made for a gloomy Tuesday for AST SpaceMobile (NASDAQ: ASTS). Investing in the space telephony specialist felt like dialing a wrong number, as its share price swooned by almost 10% on the day. The bellwether S&P 500 (SNPINDEX: ^GSPC) did far better, landing in the black with a 0.3% increase.That change was made a day after AST was socked by news that Elon Musk-owned rival SpaceX is purchasing two blocks of 5G telephony spectrum from satellite company EchoStar for its Starlink phone service. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool