Why AST SpaceMobile Stock Is Sinking Today
AST SpaceMobile (NASDAQ: ASTS) stock is losing ground in Tuesday's trading, although it has also seen a big recovery from its low in the session. The company's share price was down 1.9% as of 2 p.m. ET but had been down as much as 9.6% earlier in the day.
The broader market saw strong bearish momentum early in today's session, with sell-offs concentrated in the tech sector, but the pullback has moderated as the day has progressed. In addition to valuation pressures impacting growth-dependent tech stocks, AST stock appears to have been negatively impacted by Lockheed Martin's disappointing earnings report and analyst coverage on fellow space industry player BlackSky Technology.
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Source Fool.com
