Why AST SpaceMobile Stock Sank This Week
AST SpaceMobile (NASDAQ: ASTS) stock lost ground over the last week of trading even though the broader market saw bullish momentum. The satellite communications company's share price ended the week's session down 11.7% from the previous week's market close. Over the same stretch, the S 500 gained 1.9%, and the Nasdaq Composite climbed 2.3%.
On Oct. 21, AST announced that it was considering raising funds through a new private stock sale. The threat of stock dilution and new debt sent the company's share price tumbling.
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Source Fool.com
