Why AST SpaceMobile Stock Plummeted This Week
AST SpaceMobile (NASDAQ: ASTS) stock got hit with a substantial valuation contraction over the last week of trading. The company's share price ended the week down 13.8%. The stock had been off as much as 22.9% from its level at the end of the previous week's market close, but it wound up seeing a substantial recovery late in Friday's trading.
The sell-off for AST stock happened amid a significant increase in bearish sentiment across the broader market. The S 500 declined 1.6% over the last week of trading, and the Nasdaq Composite declined 3%.
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Source Fool.com
