Why AST SpaceMobile Stock Dropped 30% Last Month
Shares of AST SpaceMobile (NASDAQ: ASTS) sank 30% in November, according to data from S&P Global Market Intelligence. A disruptive mover in the satellite internet space, AST SpaceMobile is aiming to build a constellation of satellites that will beam high-speed internet directly to smartphones.
It has a promising technology, which investors are excited about. However, it currently generates minimal revenue vs. its market capitalization, making it a risky and volatile stock to own. Here's why shares of AST SpaceMobile fell last month.
SpaceX and its satellite internet service Starlink have changed the game, as the service can provide fast internet anywhere globally. The only problem for customers is the need to lug around a satellite terminal to get the service to work.
Source Fool.com
