Why AST SpaceMobile Stock Fell 21.6% In June
Shares of AST SpaceMobile (NASDAQ: ASTS) slipped 21.6% in June, according to data from S&P Global Market Intelligence. The previous high-flying satellite internet disruptor has hit a roadblock after the IPO of Space Exploration Technologies (NASDAQ: SPCX) and its plans to compete with the company.
Here's why AST SpaceMobile stock fell in June, and whether it's worth buying the dip in July.
AST SpaceMobile can be credited as one of the first companies to believe you could build a constellation of satellites that would directly connect mobile devices on Earth to the internet. SpaceX's Starlink service already has 10 million subscribers but requires upfront purchases of antenna terminals, making it less transportable for users.
Source Fool.com
