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Why AST SpaceMobile Stock Just Crashed

TheMotleyFool

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AST SpaceMobile (NASDAQ: ASTS) has grand ambitions to offer broadband directly to smartphones anywhere on Earth. Building and launching the satellite array that will provide that technology costs money.

AST announced yesterday that it was raising additional funds to support its efforts. The stock is dropping today on that news, down 15.5% as of 11:07 a.m. ET. But investors have more to worry about than just the required capital.

Source Fool.com

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